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Tax Consultants & Bookkeepers in the UAE

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In the News

 

VAT refunds for pavilions at Expo 2020 Dubai

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Countries and inter-government agencies will be able to claim value-added tax (VAT) refunds for the costs incurred for the developments of pavilions at Expo 2020 Dubai.

According to a Cabinet decision posted on the Federal Tax Authority's (FTA) website, the commercial space should be less than 20 per cent of the space to be entitled for the refund. The Expo 2020 Bureau will largely administer this process.  Read more...

 

UAE to ban sales of unmarked tobacco products from August 1

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The Federal Tax Authority (FTA) has announced that the selling or distribution of unmarked tobacco products will be prohibited across all local markets as of August 1.

The authority said that it has held a series of training workshops to introduce inspectors across the UAE's economic development departments to the Marking Tobacco and Tobacco Products Scheme, which went into effect in January.

The new scheme includes electronic monitoring of all kinds of imported, produced and locally traded cigarettes, from production to consumer, to ensure compliance with excise tax payments.  Read more...

 

Could blockchain transform the GCC's VAT system?

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With the introduction of VAT in the Middle East (UAE, Saudi in 2018 and Bahrain in 2019), the governments had a clean sheet to work with.

From e-registration to manual e-filing, they’ve introduced a lot of technology in a very short amount of time. Companies also had to adapt very quickly and both parties are just beginning their journey of tax and revenue automation.  Read more...

 

Why taxes on trucks should be reviewed

Individual emirates in the UAE have imposed toll taxes on trucks over the last few months and the federal government should look into as it could hamper the industry and investment into the country, an industry executive from the cement manufacturing industry urged.

"In the last couple of months, individual emirates have started toll charges for entry and exist of trucks. Emirates like Fujairah and Ras Al Khaimah have a toll of Dh300 for any truck moving out of the emirate. Similarly, Sharjah followed and started charging Dh420 for an entry of trucks in the emirate," said Pramod Rajgaria, chief executive officer of Star Cement. Read more...

 

Dubai Refreshment Co's 2018 profits drop 54% after VAT, excise tax

The implementation of value-added tax (VAT) and excise tax amounted to 60 percent of the Dubai Refreshment Company’s net local revenue and led to higher consumer prices, according to a statement to shareholders posted to the Dubai Financial Market.

In the statement, Dubai Refreshment Company, which is the sole bottler and distributor for PepsiCo in the UAE, said that the company “was forced to pass these taxes to the consumer”.

“This happened at a time when other sugary non-carbonated drinks were not subject to the excise tax and as such did not need to increase their prices,” the statement added. Read more...

 

IMF says VAT launch in Bahrain a 'significant step'

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Economic activity in Bahrain was subdued in 2018 and is expected to remain at about 1.8 percent this year, according to the International Monetary Fund (IMF).

The IMF described the introduction of value added tax (VAT) in January as "a particularly significant step", as are plans for cost recovery in utilities and further means-tested subsidy reforms.

It added that the Fiscal Balance Program (FBP), accompanied by $10 billion in regional support, marks a major step in Bahrain’s reform agenda and has alleviated near-term financing constraints.  Read more...

 

Food delivery? VAT compliance should be on the menu

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Getting food at your doorstep using technology could have never been imagined until the tech giants like Uber, Zomato and more recently Talabat and Careem have made it possible. Simply using fingers on customer friendly apps, one can now conveniently anytime during the day order food that will be delivered to your office or home.

Online food delivery apps typically work on the aggregator model where various restaurants are aggregated on the digital platform that allows customers to choose the restaurant and place the order.  Read more...

 

No VAT charges on bank interest or dividends

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Passively earned interest from bank deposits or dividend income cannot have VAT applied, the UAE Federal Tax Authority said on Tuesday.

The government body said the income was “outside the scope of VAT”, as it issued a public clarification on bank interest and dividends in a bid to educate taxpayers on all technical issues concerning taxes.

Khalid Al Bustani, the FTA’s director general said the Public Clarifications service, offered through the authority’s official website, “helps raise tax awareness among businesses and consumers alike, promoting compliance in the process”. Read more...

 

Lower VAT threshold to increase taxpayer base by 150.000 in Saudi - KPMG

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The reduction of the value-added tax (VAT) registration threshold in Saudi Arabia to SAR375,000 ($99,960) is estimated to increase the taxpayer base by 150,000, according to KPMG Al Fozan and Partners.

The kingdom introduced the 5 per cent VAT rate on January 1, 2018 but it only applied to businesses with revenues exceeding SAR1m ($266,560) in its first year.

From January 1, 2019 those with revenues of between SAR375,000 and SAR1m have also been subject to the tax. Read more...

 

First year of VAT in the UAE: FTA reveals the key details of implementation

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A total of 296,000 businesses have registered for value added tax (VAT) in its first year of implementation in the UAE, the Federal Tax Authority (FTA) has revealed.

The UAE implemented 5 per cent VAT on the supply of most goods and services in the country on January 1, 2018. Read more...

 

FTA set to mark tobacco products in UAE from January 1

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The Federal Tax Authority (FTA) has announced the completion of all preparations required to implement its 'Marking Tobacco and Tobacco Products' scheme.

Entering into effect on Tuesday, January 1, 2019, the scheme involves the electronic monitoring of all types of imported, produced and locally-traded cigarettes, from production to consumer, to ensure full compliance with payment of excise tax. It will be gradually extended to cover all tobacco products.
 Read more...

 

Taxpayers in UAE and Saudi Arabia: get ready for official tax audits in 2019

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Taxpayers in the UAE and Saudi Arabia will have to brace themselves for official audits next year as the roll-out of the 5 per cent VAT since January 1 this year overcomes a number of hurdles and teething problems.

Now that regulations are in place, taxpayers are expected to prepare for audits by the UAE’s Federal Tax Authority and Saudi Arabia’s General Authority of Zakat and Tax next year. It is an exercise that will test their resources and the accuracy of record keeping as well as the filing of tax returns. Read more...

 

Bahrain oil products to be VAT-exempt

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Bahrain will exclude oil products from a value-added tax (VAT) due to be implemented next year, part of an essential goods exclusion from the tax, Oil Minister Sheikh Mohammed bin Khalifa Al-Khalifa said on Tuesday in remarks carried by the state news agency.

Bahrain's upper house gave final approval to a draft law of the tax in October.
 Read more...

 

UAE tourists praise tax refund scheme

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The inspection tours conducted by the Federal Tax Authority (FTA) have revealed that customer satisfaction with the Tax Refunds for Tourists Scheme's electronic system is on the rise.

The authority had launched the scheme in two consecutive phases beginning on November 18, 2018, in collaboration with global systems operator Planet, covering, so far, 12 ports of entry to the UAE, comprising six airports, two sea ports, and four land ports. Read more...

 

Three down, three to go in the GCC as Bahrain set to roll out VAT

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Following the decision of the UAE and Saudi Arabia to introduce VAT, Bahrain will bring the tax in on January 1 next year, leaving Oman, Kuwait and Qatar still to do so.

At the time of writing, Bahrain's primary legislation has been in circulation for a few months (in Arabic). However, the more detailed regulations remain unseen, making it difficult for businesses that need to prepare to do so. Read more...

 

UAE says $250k tourist tax refunds processed every day

The UAE is seeing an average of 3,800 transactions per day under its recently launched Tax Refunds for Tourists Scheme, it has been announced.

The Federal Tax Authority said the average total amount of refunds processed every day has so far totalled AED925,187 ($251,868). Read more...

 

Tourists claiming UAE VAT refund may be subject to secondary checks, says operator

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Tourist visitors will be able to claim tax refunds on their purchases within minutes as part of a new digital system for the Tax Refunds for Tourists Scheme – but may be subject to secondary checks as they exit the country, the company hired to operate the digital system for the UAE’s Tax Refunds for Tourists Scheme has said. Read more...

 

UAE businesses told to keep tax data confidential

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The Federal Tax Authority (FTA) has called on businesses registered for tax purposes not to disclose their financial or tax data to any person or organisation that is not officially authorised to deal with such data.

The authority stressed in a statement issued on Saturday that it is necessary to remain vigilant about messages received via e-mail or mobile phone and not to share tax registration numbers (TRN) or financial account numbers with any entity.
 Read more...

 

New biannual tax return commences next month in UAE

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The Federal Tax Authority (FTA) will introduce a new biannual tax period next month for certain sectors, said Khalid Ali Al Bustani, director-general, FTA.

"Next November, a new biannual tax period will be introduced for some small businesses, commercial real estate owners, and board members, and they will be informed of the procedures for their new tax periods," said Al Bustani. Read more...

 

UAE records strongest excise tax compliance

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The Federal Tax Authority (FTA) on Saturday said the UAE registered one of the highest compliance rates of 97.7 per cent for tax returns requirements of excise tax.

Revealing figures at the completion of one-year of imposition of excise tax, the FTA said 715 companies had registered for the tax returns. Read more...

 

VAT refund process simplified for Emiratis

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Khalid Ali Al Bustani, director-general of the Federal Tax Authority (FTA), has announced that procedures to reclaim value-added tax (VAT) for UAE nationals who are building new residences have been simplified with electronic procedures. Read more...

 

 

Bahrain's parliament approves draft VAT law

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Bahraini legislators approved a draft law on Sunday that would see value-added tax (VAT) imposed for the first time in the kingdom, state news agency BNA reported.

The House of Representatives approved a Gulf Arab agreement to introduce VAT after a royal decree ordered parliament to hold an extraordinary session on Sunday, BNA reported, without giving details of the vote. Read more...

 

The UAE Explained: Can tourists claim their tax back?

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It is nine months since the UAE introduced VAT, and the good news for tourists is that they will soon be able to claim it back. But how?

Here is a guide to everything you need to know about the VAT process for non-residents:

- When will tourists be able to claim back VAT on their purchases?

An “advanced integrated digital system” to refund VAT to non-residents is under process and will be operational from November 18.

- Will all tourists in the UAE be able to claim their VAT back?

The only exceptions will be residents of other Gulf Cooperation Council countries: Saudi Arabia, Kuwait, Bahrain, Oman and Qatar. Read more...

 

VAT diversifies UAE government revenues with minimum rise in prices

Introduction of value added tax in the UAE has diversified the government revenues enhancing the country's institutional capacity to respond to the oil price shock while limiting inflationary impact to the minimum, said credit rating agency Moody's.

Of the six Gulf Cooperation Council (GCC) states, only Saudi Arabia has introduced the tax on schedule along with the UAE. While the VAT is at a uniform rate of 5 per cent, the level of tax compliance will be clear only when the revenue receipts are announced. Reports suggest that around 260,000-275,000 of an estimated 350,000 companies have registered for VAT so far. Read more...

 

After gold, this sector may get VAT exemption

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Following UAE's decision to exempt gold and precious metals from the value-added tax, the maritime industry could also get a relief as the Federal Transport Authority is negotiating VAT exemption with the Federal Tax Authority, confirmed a senior official on Monday.

Hessa Al Malek, executive director of maritime transport at UAE's Federal Transport Authority, said the meeting with the Federal Tax Authority will be held soon to discuss the issue. Read more...

 

Tourists in UAE won't get retrospective VAT refund

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Tourists in the UAE are unlikely to get VAT refunds for purchases made before the refund scheme comes into effect from November 2018, according to UAE-based tax experts.

They say that as per Article (68) of Cabinet Decision (52) on Executive Regulations, the Cabinet may issue a decision on introducing tax refunds for tourists, specifying the date from which the scheme comes into effect. Read more...

 

Tax Planning vs. Tax Evasion

Tax planning is the restructuring of activities in a way to maximise the tax benefits by making best possible use of all the legal options like setting up a new company in free zones, focussing on local purchases, and so on. 

On the contrary, tax evasion is a technique of refraining from tax liability with the intention of defeating the fundamental motive of the legislature. Read more...

 

VAT will attract more global investors to UAE realty

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When value-added tax (VAT) was introduced in the UAE and Saudi Arabia on January 1, 2018, initially stakeholders were wary on the potential impact of the new tax policy on the economy. 

A study conducted by Alliance Business Centers Network said that the UAE would be least affected by the imposition of VAT because it is one of the lowest globally compared to countries such as the UK, Switzerland, Germany, Mexico, South Africa and Australia. The study revealed that the VAT in UK and France was 20 per cent, which is substantially higher than the five per cent implemented in the UAE and Saudi Arabia. Read more...

 

Nearly fifth of Saudi retailers not complying with VAT, GAZT inspection finds

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A Saudi inspection campaign has led to the discovery of 323 value-added tax (VAT) violations by the General Authority for Zakat and Tax (GAZT) in the retail industry, according to local media reports.

According to Arab News, the campaign was designed to ensure that mobile phones, electronic centres and shops in the kingdom comply with the VAT system, and targeted 1,876 locations across the country. Read more...

 

Don't let UAE cashiers round up numbers for you

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Do not accept "rounding up". If the cashier cannot give you exact change, or close to it, make them "round down". It is your money. Moreover, all the other wheat stalks in the line behind you will thank you for it, and they will demand the same.

Always ask for a VAT invoice, which shows a Tax Registration Number (TRN) whenever you are being charged VAT. Chances are, the seller may not be registered. Which, by the way, is punishable by fine and imprisoment. Read more...

 

VAT in Saudi

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When Value Added Tax (VAT) was introduced in the UAE and Saudi Arabia on January 1, 2018, initially stakeholders were wary on the potential impact of the new tax policy on the economy. While a study by Alliance Business Centers Network revealed that the UAE will be least affected by the imposition of VAT, the introduction of VAT in Saudi Arabia is changing the market dynamics and bringing more transparency to the sector. Read more...

 

Are free zones in a bind?

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Following the UAE government's decision to authorise 100 per cent foreign ownership in the mainland, free zones in the UAE will have to come up with novel ideas, reasons and incentives to convince existing firms to continue their operations in the free zones as well as attract more firms, officials and analysts said. Read more...

 

Investors with commercial realty need to clear VAT dues

Investors must clear their VAT dues on the sale or rental of commercial properties before proceeding with any transfer of ownership. Read more...

 

UAE banks now able to charge VAT on fees

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Banks have started charging VAT on various services offered, following a June circular from the Central Bank of UAE, which rescinded a previous notice to the contrary. Read more...

 

 

FTA enhances e-Services for custom clearance firms

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The Federal Tax Authority (FTA) has announced enhanced features of its e-Services to facilitate customs clearance companies with easier registration procedures and submission of tax returns. Read more...

 

 

UAE signs Agreement for the Avoidance of Double Taxation and Prevention of Tax Evasion with Saudi Arabia

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The UAE, represented by the Ministry of Finance (MoF), signed an agreement for the Avoidance of Double Taxation and Prevention of Tax Evasion with respect to taxes on income and capital, with Saudi Arabia yesterday. Read more...

 

 

UAE's VAT taxpayers can appoint agents via government website

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UAE taxpayers can now connect directly with accredited tax agents – including accountants, lawyers or consultants – via a

 

 

UAE Exchange now authorised to accept VAT payments

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Money transfer company UAE Exchange has announced that it has now been authorised to start accepting value added tax (VAT) payments on behalf of the Federal Tax Authority (FTA) in the country. Read more...

 

 

All you need to know about VAT on gold and diamonds in UAE

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The Federal Tax Authority (FTA) on Wednesday clarified that the new Cabinet decision issued about VAT reverse charge mechanism for the gold and diamond industry will only pertain to commercial transactions between registered dealers. Read more...

 

 

Removing jewellery from the VAT regime may change the UAE's tax future

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The UAE Cabinet made a seemingly minor change earlier this month in how VAT applies to jewellery sales. It is significant for the way in which the VAT system will hold together in the GCC. It may even define the future of VAT in the UAE and the GCC for the next decade. Read more...

 

Kuwait to delay VAT implementation until 2021

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Kuwait is set to delay its implementation of a regional 5 per cent value added tax until 2021, according to parliamentary committee statement. Read more...

 

 

New system launched to detect tax dodgers

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The Federal Tax Authority (FTA) has announced launching a new electronic tracking system which uses digital tax stamps to ensure excise tax on tobacco products has been paid. Read more...

 

 

Up to 75,000 UAE firms facing fines for failing to register for VAT

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Almost 75,000 UAE companies are facing potential fines and other punishments from the government having still not registered for a new value added tax (VAT).The 5 per cent tax rate came into force on January 1 and applies to most goods and services. Read more...

 

 

Beware: FTA to get tough on VAT evaders in UAE

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The Federal Tax Authority will get tough on companies, which are obliged to register for value-added tax (VAT) but have not done so from next month, said a senior official. Read more...

 

 

UAE achieves '98.8 per cent VAT compliance': Federal Tax Authority

Nearly 100 per cent of companies in the UAE that were obliged to pay value added tax (VAT) have since registered to do so, according to Khalid Al Bustani, director general of the Federal Tax Authority (FTA). Read more...

 

Over half of UAE SMEs unprepared to file proper VAT returns

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Small and medium enterprises (SMEs) are still facing a lot of challenges as the first deadline for value added tax filing returns approaches, with more than 50 per cent of them still not ready to accurately file the returns, according to tax experts. Read more...

 

 

How VAT is driving digital transformation

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Tax authorities in the GCC are starting to use sophisticated digital platforms that require taxpayers to submit data in real time or near-real time, prompting companies in the GCC to enhance their digital capabilities. Read more...

 

 

UAE banks may hike fees to offset additional VAT costs

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As banks in the UAE grapple with the new value-added tax (VAT) regime and the high compliance costs associated with mandatory tax registration, it is likely that they follow international trends by increasing their fees to compensate for the additional costs, banking analysts said. Read more...

 

UAE nationals can claim VAT refund on home construction 

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Emirati house owners have the right to a five per cent value added tax (VAT) refund when constructing their homes, the Federal Tax Authority (FTA) has stated. Read more...

 

 

What are the regulatory challenges for businesses in UAE, Saudi?

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Value added tax (VAT) implementation has been a considerable challenge for most businesses in the UAE and KSA, where compliance with taxes is not common. VAT represents the most comprehensive and transformative regulatory requirement that business has had to take on. Read more...

 

Here are 3 easy steps for VAT registration in UAE 

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The Federal Tax Authority (FTA) said a taxable person or an official representative can register for value-added tax (VAT) in 3 easy steps through its website, taking no longer than 15 to 20 minutes. Read more...

 

 

Companies may struggle to file accurate VAT returns, experts say

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UAE companies filing their first VAT returns will need to account for a number of variables that range from record keeping over the coming five years to making sure they don’t under claim the tariffs they collected, experts said.  Read more...

 

 

VAT inspectors scanning hundreds of products to catch out retailers that 'manipulate' prices

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Consumer affairs inspectors are scanning hundreds of products every day to catch out retailers trying to use VAT as an excuse to "manipulate" prices, the Minister of Economy has said.  Read more...

 

 

VAT recovery in the UAE is another thorn in the process of reclaiming the tax

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The introduction of VAT in the UAE and Saudi Arabia will have implications for conference and event businesses, as companies not registered for the tax in both countries will pay the levy when they hold events, according to a VAT recovery firm.  Read more...

 

 

No VAT, excise tax increase over next five years in UAE 

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The UAE has ruled out increasing value-added tax (VAT) and excise tax over the next five years, said Obaid Al Tayer, UAE's Minister of State for Financial Affairs. Read more...

 

 

 

VAT compliance a challenge for UAE firms, experts say

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Businesses are struggling to comply with VAT, with a significant number not yet registered, even as the Federal Tax Authority (FTA) waives penalties for late registration and extends deadlines for filing tax returns for some companies, experts say. Read more...

 

 

No VAT on realty transactions in designated zones in UAE

altSale and lease of both commercial and residential properties in designated zones will be outside the scope of VAT, according to the latest clarification issued by the Federal Tax Authority (FTA) at a meeting with a group of tax consultants in the UAE. Read more...

 

 

Constructions firms should be wary of VAT-related cashflow issues

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Suppliers need to take proactive measures to protect themselves from cashflow issues in the wake of the implementation of value-added tax (VAT), according to a UAE-based construction expert. Read more...

 

 

Some GCC countries could double VAT to 10%: Report

altSome GCC countries could double VAT rate to 10 per cent mainly due to discrepancy between five per cent statutory and effective tax rate, says a new study released on Sunday. Read more...

 

 

No VAT on exports: Saudi tax authority

altThe General Authority of Zakat and Tax (GAZT) clarified that Saudi Arabian exports are zero-rated under the VAT Law and Implementing Regulations. Read more...

 

 

Free zone: no legal basis for companies refusing to work with freelancers over VAT 

Businesses have no legal basis to refuse to work with freelancers that are not registered for VAT.

That was the assessment of one free zone as it responded to reports that companies are telling self-employed individuals they won't work with them unless they have a VAT registration number. Read more...

 

VAT in UAE: New online calculator to check authenticity of tax invoice

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The Federal Tax Authority (FTA) on Tuesday launched a Tax Registration Number (TRN) verification service on its website, where consumers can check the authenticity of tax invoices and ensure that the merchants and service providers issuing them are registered with the FTA. Read more...

 

 

How VAT affects your insurance spending

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As you are aware, value-added tax (VAT) implemented in the UAE on January 1. This means, as a consumer, the majority of your purchases have five per cent added to the price. Read more...

 

 

 
Ask the Law: Bounced cheques and related laws in the UAE

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Here's what we learnt about bounced cheques in the UAE from readers' questions in Ask the Law. Read more...

 

 

 

 

How VAT affects car owners and sellers in the UAE

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How much you pay to buy a new or second-hand car depends on whether you are buying from an agency, dealer or individual, according to a new guide for drivers released by ServiceMarket.com and CarSwitch.com. Read more...

 

 

 

10 important things you need to know about VAT in UAE

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Here's a rundown of what you need to know about VAT - from what products and services are subject to it to knowing whether companies are trying to pull a fast one on youRead more...

 

 

VAT in UAE offers new opportunity for banks
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The introduction of value-added tax (VAT) in 2018 would mark the beginning of a new era in the economic diversification of the UAE. In the past four decades, the UAE has seen a massive economic transformation from an oil based economy to a well-diversified economy compared to its peers. The GDP of the country went up from a mere $14 billion in 1975 to over $380 billion supported by the growth in oil and non-oil sectors. As a result of the diversification efforts initiated two decades back, oil sector now just accounts for around 30 per cent of the total GDP. Read more...

 

Is your grocery illegally charging VAT? Find out here

The invoice should include the seller's tax registration number (TRN) and the amount of VAT charged. No TRN, no VAT. Read more...

 

UAE Ministry of Finance approves first purchase invoice with VAT

altFollowing its commitment to the UAE's various government finance procedures, laws and regulations; the Ministry of Finance (MoF) has today issued the first VAT inclusive purchase order, and approved the first VAT invoice on its federal financial system. In light of such activity MOF became the first federal entity to implement tax procedures and issue a tax invoice in 2018Read more...

 
 
 
Small corner shops must comply with VAT law: Al Bustani 

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Khalid Al Bustani, Director General of the Federal Tax Authority (FTA), said that all retailers must update all their prices in time for the VAT kick off on January 1. Read more... 

 

 
Family businesses expected to face VAT compliance challenges

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Family businesses across the GCC are likely to face tax compliance challenges as Value Added Tax (VAT) is being introduced in the region starting with the UAE and Saudi Arabia from January 1, 2018. Read more...

 
 
 
 
All you need to know about registering for VAT? 

According to the executive regulations on value added tax (VAT) published last week, the mandatory registration threshold is Dh375,000. Read more...

 
 
 
Guide: How VAT will impact education sector in UAE  

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Implemented across more than 150 countries worldwide, the UAE's 5% VAT is among the lowest in the world. Read more...

 
 
 
Brokers no longer allowed to sign rental contracts

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Brokers legally appointed to manage property of landlords based abroad are no longer allowed to sign unified lease contracts to get an Ejari. Read more...

 
 
 
 
Move on bounced cheques to boost investor confidence

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The decision by Dubai Courts to issue fines instead of jail sentences for bounced cheques will help instill confidence among the business community and ensure that those in debt can resolve their issues, Hamad Buamim, president and CEO of Dubai Chamber of Commerce and Industry, said on Monday.  Read more...

 

Two VAT-specific deadlines for owners of commercial properties

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One, they will need to register with the Federal Tax Authority if the sales or rental proceeds exceeded Dh375,000 in the previous 12 months. And, two, if the owners believe they are likely to generate more than Dh375,000 over the next 30 days. Read more...

 
 
 
 
 
If VAT induces a fear of buying, try leasing a car

If the cost of buying a new car is a worry, then give leasing it a shot. UAE dealerships are all set to upgrade – or update - their financial leasing services to try and ease the reluctance of buyers over the higher costs they will have to bear after VAT’s implementation. Read more...

 
 
VAT in the UAE: 10 things to know

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The Federal Tax Authority (FTA) has announced a list of the top ten things businesses must know before registering for VAT, in order to raise awareness within the business community, as well as society at large. Read more...

 
 
 

Passengers at Dubai airports to pay excise tax

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Dubai Duty Free (DDF) confirmed on Monday that both departing and arriving passengers at Dubai’s airports will pay an excise tax on carbonated drinks and energy drinks in line with the UAE’s implementation of the tax.

 

Zero rating and exemptions available to a number of goods

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Zero-rating of value added tax applies when goods and services are being exported to outside a VAT-implementing GCC state, as well as to international transportation of passengers or goods including a transfer starting or ending in the UAE or passing through its territory

 

Who will bear the burden of VAT in the UAE?

altLess than three months to go until VAT is introduced in the UAE and the sense is that most businesses remain woefully unprepared, and the effect on the wider economy remains unclear. The UAE government is anticipating significant – and much needed – revenues but who is likely to pay the economic cost of VAT?

 

Saudi businesses with revenue exceeding SAR375,000 to pay VAT from Jan

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Saudi Arabia’s General Authority for Zakat and Tax has announced that private sector companies with annual revenue exceeding SAR375,000 ($100,000) will pay monthly value added tax from January 2018, according to reports.

 

VAT and its implications in the GCC

altWith the new economic reform of adding value-added tax (VAT) in the Gulf Cooperation Council (GCC) coming into effect in January 2018, many are concerned about its implications. 

 

Federal Tax Authority clarifies price-setting mechanism for Excise Tax

Following the introduction of Excise Tax in the UAE on October 1, the Federal Tax Authority (FTA) has clarified that the Excise Goods Price List that is downloadable from its website is a reference for tax calculation only, and not for setting retail prices.

 

UAE Cabinet Approves Decisions No. (39) and (40) for 2017 on Federal Tax Authority's Service Fees, Administrative Fines

altThe UAE Council of Ministers has adopted Cabinet Decision No. (39) of 2017 on Fees for Services Provided by the Federal Tax Authority and Cabinet Resolution No. (40) of 2017 on Administrative Penalties for Violations of Tax Laws in the UAE.

 

altThe planned Excise Tax is set to go into effect at the beginning of October 2017, announced the Federal Tax Authority (FTA) at a press conference in Dubai today (Wednesday, September 27, 2017). 

 

President issues VAT Decree Law

The UAE will mark the beginning of new era in its 46-year history on Sunday as it starts implementing excise tax, exactly three months ahead of the launch of value added tax (VAT), another landmark region-wide tax initiative. 

 

Federal Tax Authority debuts website to help businesses navigate UAE's new Tax system

altThe Federal Tax Authority (FTA) has launched its website, providing businesses and consumers with a wealth of information on the upcoming introduction of excise tax and VAT in the UAE.  

 

UAE President issues Excise Decree-Law targetting select 'harmful' products 

President issues new Tax Procedures Law

UAE Federal National Council passes draft on tax-related law

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