To comprehend any taxation system, it’s essential to become familiar with the tax jargon that surrounds it. The terminology used in taxation often encapsulates specific concepts or legal definitions, and grasping these terms can significantly aid businesses in swift comprehension of tax laws and seamless…
In the context of UAE VAT Registration, VAT Group Registration allows two or more individuals engaged in business activities to collectively apply for tax registration. A VAT group is essentially a collection of two or more individuals registered with the FTA (Federal Tax Authority) as…
The FTA has set VAT registration deadlines in the UAE based on businesses’ turnover. Here are the UAE VAT registration deadlines: Deadline for VAT Registration in the UAE: Mandatory Registration Registration Type Type of Business (Turnover in million) VAT Registration Due Date Mandatory…
The Federal Tax Authority (FTA) and the UAE Customs Departments have joined forces to streamline the collection of Value Added Tax (VAT) on imported goods. If your business is VAT-registered, you must furnish your Tax Registration Number (TRN) to the customs department during the goods…
With the unanimous approval and subsequent signing of the GCC United VAT Agreement by all member countries, the implementation of the Value Added Tax (VAT) system in GCC Member States is now on the horizon. This implementation is anticipated to be fully operational by 2018,…
All companies registered in the UAE that have supplied more than AED 375,000 to a member state in the past 12 months must register for VAT Registration UAE . Businesses must also register for UAE VAT Registration if they expect the total value of their…
As time passes, we are one step closer to implementing VAT in the UAE. VAT Registration UAE is a general consumption tax levied on most transactions of goods and services unless specifically exempted by law. Under this, VAT is levied at each stage of “value…
Let’s begin by asking what a VAT Return is in actuality. It is a periodic statement that must be given to the appropriate authorities and includes a summary of the value of all the purchases and supplies made by a tax-registered individual. This statement will…
In the complex world of taxation and business compliance, obtaining a VAT Certificate is a crucial step for businesses operating in many countries. The process can be intricate and time-consuming, but with the right knowledge and guidance, it can be streamlined to ensure your business…
