UAE VAT – Change in tax period VAT Update-Change in tax period: Latest FTA Update- change the length of the tax period to half-yearly (6 months) Purpose of the VAT Administrative Exception Form What is a VAT Administrative Exception? : A VAT Administrative Exception is a mechanism which provides registrants with concessions / exceptions allowed
VAT Registration in Bahrain : The first compliance activity for all businesses in Bahrain is to register under VAT. The window for obtaining a VAT registration begins. Businesses must know about who is obligated to register under VAT. Certain businesses are mandatory required to obtain a VAT registration.
Foreign business VAT refund : The foreign business must not have a place of establishment or fixed establishment in the UAE The Federal Tax Authority (FTA) has outlined four conditions that would allow foreign businesses to recover value-added tax (VAT) incurred in the UAE. To be eligible for the VAT refund, the first condition is that
Firms should be ready for audits in 2019 Tax audits 2019: UAE businesses should be ready for tax audits by the FTA in order to check their resources and accuracy of record-keeping. The FTA has been sending notifications to companies that they will be audited five working days after the date of the e-mail sent to
Tourist VAT refund update: Phase 2 of tourist VAT refund scheme rollout from Dec 16 The first phase went into effect on November 18, 2018. Tourist VAT refund update: The Federal Tax Authority (FTA) on Wednesday said all preparations were complete to launch phase 2 of the Tax Refunds for Tourists Scheme from Sunday, December 16. The
Unlimited VAT Refund for Tourists: The VAT refund scheme for tourists is seen to play a key role in boosting inbound tourism to Dubai and the UAE. Most refunds expected to come from purchases of gold jewellery, electronics and luxury goods. Tourists visiting the UAE have a reason for joy as the government has set no
VAT REFUND FOR RETAILERS : 4 CONDITIONS FOR UAE RETAILERS TO REGISTER IN THE SYSTEM VAT refund for retailers: The Federal Tax Authority (FTA) on Saturday announced four conditions for retailers to register in the digital system of the Tax Refund Scheme for Tourists, which will come into effect as of the fourth quarter of this
VAT Import Declaration Updates VAT 301 NOTIFICATION : Since the implementation of VAT on the 01/01/2018 the VAT 301 form has been available on our e-services portal to manually process the VAT payment on Customs Declarations using the Tax Registration Number (TRN). In order to automate this service, your TRN must be linked to all
Tourists VAT Electronic Refund Tourists VAT Electronic Refund : A tourist entering UAE is eligible for VAT refunds on all his purchases while he was in UAE under UAE tourist VAT refund scheme in a seamless electronic manner. A Fully Electronic procedure: Upon leaving the UAE, tourists will be able to reclaim taxes paid on their purchases
VAT on Entertainment Expenses: Firms can’t recover VAT on entertaining non-employees VAT on Entertainment Expenses: Companies in the UAE will not be able to recover value-added tax (VAT) paid on entertainment expenses for non-employees, according to a new clarification issued by the Federal Tax Authority (FTA). VAT on entertainment expenses provided to non-employees, such as accommodation,