VAT in UAE: A Quick Guide to What’s Exempt and What’s Not

The VAT implementation in UAE is going to take place in another few days, and the government is trying its best to make the entire country well-informed about the latest regulations and tax framework. In a recent announcement, the Federal Tax Authority (FTA) has revealed the list of supplies...

Increasing Demand for Professional Accountants in UAE Ahead of VAT Implementation

As UAE gears up for VAT implementation from 1 January 2018, there is a growing demand for Professional accountants (CAs) in the business houses for professional consultation and advice that helps them prepare for the new tax regulations. Reports claim that CAs from India especially are in high demand...

Cabinet Resolution No. 40 of 2017: An Overview of the Administrative Penalties in UAE

From January 1, 2018, UAE is going to witness the implementation of VAT (a taxation system focused on consumers). But before that big event, the government is making sure all the countrymen have adequate knowledge about the new tax regulations. In a press conference, a government spokesperson revealed that...

How VAT Regulations Are Going to Affect Rate of FDI in UAE?

The federation of seven emirates has been considered a safe playground for the investors since the beginning of this century, especially when the countries like Libya, Syria and Egypt were going through some serious turbulence. The low tax rates and other favorable conditions have helped a great number of...

A Comprehensive View on Possible Impact of VAT on Expats in UAE

With the VAT Laws all set to be implemented in UAE, there are certain regulations and charges that will be imposed on the expatriates by the exchange houses. These charges and tax amount to be imposed on the remittances may come under the concerns of imminent VAT, according to...

Fines and Penalties for Non-compliance of VAT Regulations in UAE

In a recent announcement, the government of UAE has revealed the fees and penalties for non-compliance of value-added tax (VAT) regulations as the date for VAT (a consumer-focused taxation system) implementation approaches. This latest tax regulation, which is supposed to be implemented from January 1, 2018, covers a great...

All You Need to Know About UAE VAT Exempted and Zero-Rate Products

To begin with, it needs to be mentioned that in the upcoming VAT implementation in UAE, there will be two types of supplies – Taxable and Exempted. In case of Taxable Supplies, the following list of goods and services shall be taken into account – Retail purchase Hotels and...

What Can Be The Possible Implications Of VAT On Tourism Industry In UAE?

As UAE is all set to welcome the new tax reforms with the introduction of value added tax (VAT) on January 1, 2018, it is a little difficult at this point to predict what lies ahead for one of the most prominent and flourishing sectors in the economy, namely...