Introduction to Tax System The Gulf Cooperation Council (GCC) announced the introduction of a new tax system VAT-Value Added TAX in all its member countries - United Arab Emirates (UAE) Kingdom of Bahrain, Kingdom of Saudi Arabia (KSA), Sultanate of Oman, State of Qatar and State of Kuwait. Ever since…
In relation to the introduction of a new policy under the UAE Federal Law No. 8 of 2017 on Value Added Tax, businesses are required to comply with the requirements to fulfil their tax obligation. Kindly allow us to let you consider the following points: It is necessary for the…
EXCISE ADVISORY AL SAADI & ASSOCIATES AUDITING has the expertise and dedication to ensure you receive the appropriate advice to help you comply with the Tax laws and regulations in UAE. Excise tax is levied on the products which are typically harmful and dangerous for human health and the environment.…
EXCISE REGISTRATION The excise tax was introduced in 2017 across the UAE. The excise tax is also known as the “sin tax” is a form of indirect tax levied on specific goods which are considered harmful to human health or the environment. The implementation of excise tax in UAE includes…
ARE YOU INVOICING YOUR CLIENTS CORRECTLY? As of 1st January, all businesses are required to keep records for VAT and Tax purposes. The failure of keeping and maintaining required records results in a 10,000 AED penalty. Book your free VAT consultation with our experts. We're here to take away your…
VAT Returns Filing has to be done through the online portal of the Federal Tax Authority (FTA) available under e-services. The form used for VAT return filing is called Form VAT 201. A taxable person is responsible to submit VAT return in the UAE in the prescribed format given by…
Vat De-Registration is the provision for a registered taxable person in cancelling its VAT registration on FTA. When should you De- Register your TRN from the FTA? If he stops making Taxable Supplies. If the value of the Taxable Supplies made over a period of (12) consecutive months is less…
UAE VAT Registration is applicable to the following businesses as per the rules and regulations established by the Federal Tax Authority (FTA): Annual turnover is more than AED 375,000 (mandatory registration) Yearly turnover is between AED 187,500 and AED 375,000 (voluntary registration) Annual turnover is less than AED 187,500 (registration…
Tax Agency is a legal entity that has the licensed to operate as a tax agency and has completed the tax agency registered with the FTA. Tax Agent is a person authorized by the FTA which usually engaged by his or her clients through the Tax Agency with whom he…
