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
Updated Reverse Charge Mechanism on Precious Metals and Stones in the UAE
Reverse Charge Mechanism UAE 2025 for Precious Metals and Stones 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
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
New UAE Corporate Tax Audit Rules: Decision No. 84 of 2025 Replaces Decision No. 82 of 2023
Introduction As part of the UAE’s continuing effort to reinforce fiscal transparency and align with global corporate tax governance, the Ministry of Finance has issued Ministerial Decision No. 84 of 2025. The New UAE Corporate Tax Audit Rules 2025 introduce updated requirements for the preparation and maintenance of audited financial
