Uncategorized

Online shopping, how does VAT work?

By addone, January 20, 2018 | Uncategorized

Its the same as for any other goods. If they are sold in the UAE, internet companies now need to add 5%. But many online companies are based elsewhere around the world so this adds complication and they may not...

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VAT has now gone live

By addone, January 19, 2018 | Uncategorized

VAT IS LIVE The 1 January 2018 marked the beginning of tax in the UAE and Saudi. Companies are now frantically working to make sure they can meet the new VAT regulations and prepare for the first submission date. Have...

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VAT goes live 1 January 2018

By addone, January 08, 2018 | Uncategorized

VAT is now officially live in the UAE and Saudi. Despite much debate, the government stuck to its timeline, and VAT went live on the required date of 1 January 2018 Businesses are now rapidly preparing and ensuring they are...

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CRITICAL VAT CHECKLIST

By addone, November 29, 2017 | Uncategorized

It is critical you understand how VAT will impact your company: Understand if your business needs to register for VAT. All businesses should submit their registration application by December 4, 2017 Act quickly o Much of the legislation is being...

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What is The Federal Tax Authority (FTA) in the UAE?

By addone, November 29, 2017 | Uncategorized

The Federal Tax Authority (FTA) is the government entity responsible for the collection and management of federal taxes and was established in 2016. The Ministry of Finance (MoF) manages and develops fiscal policies. Recently they have issued the important following...

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What is VAT?

By addone, November 29, 2017 | Uncategorized

Value-Added Tax or VAT is a tax on the consumption or use of goods and services levied at the point of sale. VAT is a form of indirect tax and is used in more than 180 countries around the world....

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UAE’s economy to grow by 3.4% in 2018

By addone, November 28, 2017 | Uncategorized

Interestingly, most of the newspapers and economists are forecasting that the UAE’s economy will finally turn the corner next year and is expected to experience a growth rate of 3.4% in 2018. This is according to the International Monetary Fund...

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UAE urges businesses to file tax returns by 15th November

By addone, November 13, 2017 | Uncategorized

The National announces: "Federal Tax Authority urges businesses to file tax returns by November 15. Failure to submit returns on time will incur hefty penalties." This year the UAE introduced an excise tax on tobacco and energy drinks. 100 per...

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IMF Report that the UAE is set to rebound in 2018

By addone, October 27, 2017 | Uncategorized

Khaleejtimes.com reports that The UAE's growth forecast, which was cut to 1.5 per cent in 2017... is expected to be accelerating to 4.4 per cent in 2018. The fastest pace in the Middle East region. "The UAE economy has been...

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Excise tax registration opening today – 17 Sept

By addone, September 17, 2017 | Uncategorized

The Federal Tax Authority has announced that businesses 'producing, importing or stockpiling excise goods' are invited to register for excise tax on their website from Sept 17 to obtain their tax registration number. Visit their site to find out more:...

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