Financial Insights for Businesses in UAE

VAT incurred on any costs which are used for a genuine business purpose e.g. food and drink provided during a business meeting shall be recoverable. If such food and drink is the purpose for attending an event, such costs will be considered to be entertainment costs, and the VAT incurred

In accordance with Article 41 of Cabinet Decision No. 52 of 2017 on the Executive Regulations of the Federal Decree-Law No. 8 of 2017 on Value Added Tax (“Executive Regulations”), VAT on healthcare services may be zero-rated if certain conditions are met. Healthcare servicesAny Service supplied that is generally accepted

VAT Registration was introduced in the UAE on 1st January 2018. The Federal Tax Authority (FTA) is responsible for the administration and collection of taxes in the UAE. The UAE imposes VAT on tax-registered businesses on the taxable supply of goods or services at each step of the supply chain.

VAT on Supply of Education Services in the UAE The Federal Tax Authority (FTA) mandates that the main educational services and the goods and services associated with it will be zero-rated if it is supplied by the ‘qualifying educational institutions’ under VAT Educational Services guidelines. The following institutes come under

VAT Voluntary Disclosure A Voluntary Disclosure is a form (VAT Form 211) provided by the Federal Tax Authority (FTA) that enables the taxpayers to voluntarily notify the FTA about the error or omission in a previous Tax Return, Tax Assessment, or Tax Refund application. This is applicable only if the

In the wake of the global pandemic, COVID-19, many government authorities introduced major relief packages for companies in the UAE. These measures, including rent postponement of up to six months, aimed to address the challenges of Rent-Free During COVID-19 initiatives and support businesses in overcoming financial hardships. Let’s discuss the