Newsletter of May
On 28 April 2021, the UAE Cabinet of Ministers issued Decision No. 49/2021 amending provisions of Cabinet Decision No. 40/2017 regulating tax penalties (the “new Decision”).
Newsletter of April
Supplies of qualified means of transport, such as buses that are designed or adapted for public transportation of 10 or more passengers and are used for public transportation are, however, zero-rated for VAT purposes.
At the time of sales, the registered supplier charges VAT to the customers and amount of VAT will be shown as an output VAT in VAT return. This amount is normally paid (after adjusting against the eligible input credit) to the Tax authority.