UAE’s Bold Legal Leap Toward Climate Neutrality
In a decisive stride towards environmental sustainability and global leadership in climate action, the United Arab Emirates (UAE) has introduced Federal Decree-Law No. (11) of 2024 on the Reduction of Climate Change Effects. Signed into law by President, this legislation underscores the country’s unwavering commitment to climate neutrality and sustainable
Tax Invoices and Input Tax Recovery in Concerned Services
In the ever-evolving landscape of UAE VAT legislation, clarity and compliance remain paramount. The Federal Tax Authority (FTA) has released Public Clarification VATP044, addressing a pivotal issue—the issuance of tax invoices and the entitlement to input tax recovery for Concerned Services. This clarification is instrumental for businesses engaged in cross-border
Updated Reverse Charge Mechanism on Precious Metals and Stones in the UAE
The United Arab Emirates continues to refine its tax framework to align with global best practices and enhance compliance. A significant step in this direction is the introduction of Cabinet Decision No. 127 of 2024, which revises and expands the scope of the Reverse Charge Mechanism UAE 2025 applicable to
VAT Treatment of Cryptocurrency Mining in the UAE
The growing prominence of cryptocurrencies has raised important questions regarding their tax implications, particularly in the context of cryptocurrency mining. Recognizing this emerging issue, the Federal Tax Authority (FTA) has issued a detailed clarification outlining the VAT (Value Added Tax) treatment of mining activities under the UAE’s taxation framework. Definition
Barter Transactions Under UAE VAT
Barter Transactions Under UAE VAT involve the exchange of goods or services without monetary consideration, which can create complex VAT implications. Recognising this, the Federal Tax Authority (FTA) issued Public Clarification VATP042, outlining key rules on valuation, invoicing, and compliance. This article summarises essential guidance to help VAT-registered entities navigate
VATP041 Replaces VATP036 – What Financial Institutions Need to Know
Banks and exchange houses (collectively referred to as financial institutions) often engage with non-UAE banks using the SWIFT communication system. In this process, international bank charges are incurred, and under the updated guidance where VATP041 Replaces VATP036, these charges now fall under more clearly defined VAT treatment. As these charges
