Financial Insights for Businesses in UAE

The Federal Tax Authority (FTA) has provided clarification regarding VAT on Sale of Business or transfer of business through VATP015, issued on 20th August 2019. As outlined in Article 7(2) of Federal Decree-Law No. (8) of 2017, the transfer of a whole or independent part of a business to a

The Public Clarification provides a high-level overview of VAT on Ecommerce Sector, focusing on the amendments and application of Value Added Tax in the UAE. Issued under Federal Decree-Law No. 8 of 2017 on Value Added Tax (the “Decree-Law”) and Cabinet Decision No. 52 of 2017 on the Executive Regulation,

All you need to know about VAT Penalty in UAE. The UAE cabinet has approved the list of administrative penalties that will be imposed on businesses for violations of the tax laws. It is important for every taxpayer to know what are the different circumstances that lead to the imposition of these

With Respect to VAT Public Clarification ,the Federal Tax Authority classified labour accommodation into two categories for tax payment purposes. There will be instances where the supply of certain labour accommodation shall be a supply of residential property, and other instances where the supply of certain labour accommodation shall be

The Federal Tax Authority (FTA) released a public clarification on UAE VAT, VATP013, that sets certain principles to analyze certain expenses which amount to Reimbursement or Disbursement. The said public clarification discusses the applicability of VAT on reimbursement and disbursement of expenses charged by a taxable person on another person.

There has been uncertainty regarding the VAT treatment of options supplied in return for premiums specifically, whether they are exempt or taxable for VAT purposes.The latest public clarification issued by the Federal Tax Authority (FTA) vide clarification No: VATP014 discusses the VAT treatment of financial options and options premiums. Option