Financial Insights for Businesses in UAE

A natural person may own a number of sole establishments, which may perhaps undertake different lines of business. There has been uncertainty on whether each sole establishment needs to obtain VAT registration separately or whether all such establishments could be included under one VAT registration. This Public Clarification clarifies the

The UAE government has published a VAT refund scheme that enables businesses/ business visitors to claim the VAT paid on the purchase of goods and services incurred in the UAE. Foreign businesses that meet the following conditions are eligible to apply for a VAT refund: The business should be located in

The earlier applicability of VAT on Gold and Diamonds Businesses in UAE involved a forward charge mechanism, where VAT was collected by the supplier at the time of supply, leading to cash flow challenges for businesses purchasing gold and diamonds. This has now been modified to a reverse charge mechanism,

The VAT implications on Social Media Influencers in UAE apply to individuals who make supplies in their personal capacity as performers, singers, dancers, stage artists, make-up artists, DJs, poets, songwriters, or others engaged in similar activities, collectively referred to as Artists. Additionally, Social Media Influencers, including bloggers, YouTube hosts, and

The VAT treatment of compensation-type payments in UAE has been clarified by the FTA in Public Clarification VATP001, providing principles for businesses to determine VAT applicability on such payments. To impose VAT, there must be a supply of goods or services. Payments unrelated to such supplies are not subject to