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VAT – Accounting & Bookkeeping

New-Residence-VAT-Refund-Scheme-for-UAE-Nationals
New Residence VAT Refund Scheme for UAE Nationals
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The New Residence VAT Refund Scheme is a Special Refund Scheme available in UAE VAT Law. This scheme is applicable only to UAE Nationals who construct a Residential Building for […]

Blockchain technology in Accounting
Blockchain Technology In Accounting
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The 21st century has accelerated the technological advancement in various functions of business. The automation of any business activities has always helped businesses to focus on its core function and […]

VAT Refund
Everything About VAT Refund
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Any VAT registered business shall submit the summary of its taxable supplies on a quarterly basis to Federal Tax Authority. The submission of VAT Return will lead to one of […]

Condition You Can Apply For VAT Amendment
Under What Condition You Can Apply For VAT Amendment?
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Are you registered for VAT? Does your filed record with FTA need to be updated? The registrant is responsible to notify the changes in business details that are provided while […]

VAT Payment For Registered And Non Registered Supplier
Import VAT Payment For Registered And Non Registered Suppliers
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Any Business intending to import goods to UAE will have to pay custom charges along with VAT. The VAT is computed on total value of CIF+ Customs Duty + Excise […]

Conditions of VAT De-Registration
Understanding the Conditions of VAT De-Registration
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Did you stop making taxable supplies or started making supplies less than AED 187,500 or AED 375,000? If your answer is affirmative to any of the above question then this […]

Economic Substance Regulation
Economic Substance Regulation: What Is It and Are You Eligible?
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The UAE introduced the Economic Substance Regulations, applicable in offshores, freezones, as well as on-shore, to honor its commitment as a member of the OECD Inclusive Framework on Base Erosion […]

VAT On Transfer of a Business in UAE
VAT On Transfer of a Business in UAE: TOGC
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As per Article 7(2) of the Federal Decree-Law No. (8) of 2017 on Value Added Tax, the transfer of whole or an independent part of a business from a person […]

UAE Assures No VAT Increase
UAE Assures No VAT Increase Post Saudi’s Increment Announcement
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After the surprising move of Kingdom of Saudi Arabia (KSA) of increasing the VAT by three fold i.e from 5% to 15%, the citizens of the UAE were anxious about […]

Claim VAT Paid on Expenses
Can We Claim VAT Paid on Expenses Prior to VAT Registration?
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Before answering let’s see what the registration limit for VAT is. There are two types of Registrations under VAT Law: Mandatory Registration: For those businesses whose value of supplies exceeds […]

VAT Refund For Providing Exhibition
VAT Refund For Providing Exhibition & Conference Service
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Article 75(5) of the UAE Federal Decree Law No (8) of 2017 on Value Added Tax (“Law”) and Cabinet Decision No. (26) of 2018 on the Refund of Value Added [...]
Country By Country Reporting Requirements
United Arab Emirates Introduces Country By Country Reporting Requirements
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On 13th April,2019 the cabinet resolution no. 32 of 2019 was issued introducing the regulations on Country by Country Reporting (CbCR) in the United Arab Emirates. Purpose of Base Erosion […]