VAT has been a hot topic over the past few months. Businesses and taxpayers are well aware of the consequences of non-compliance. The procedure of filing VAT return uae is continuous, so it’s imperative that businesses comprehend it and make the necessary preparations before submitting…
This article explains how to deregister or modify a VAT return uae tax group in the UAE. A tax group is two or more related companies registered together as a single taxable entity for VAT purposes. Registering as a tax group means supplies between members…
Most businesses in the UAE that meet the requirements for VAT registration have already registered by now. Registered businesses must follow VAT rules like issuing proper invoices, filing returns on time, and paying taxes when due. The VAT law allows registered businesses to cancel their…
The Federal Tax Authority trn verification in the UAE has implemented a plan that enables overseas enterprises to get refunds on VAT paid for expenditures made in the UAE. This scheme is similar to the VAT return uae refund system present in the European Union.…
For VAT purposes in the UAE, Designated Zones are treated as being outside the State and other Implementing States. Although considered outside the State, moving Goods from within the State to a Designated Zone is not deemed an export of Goods. This means that supplying…
This exemption is specific to VAT and does not apply to customs duties, which may still need to be paid. Let’s look at the types of imports exempt from VAT Registration: Goods imported by the armed forces, including the military and internal security forces, are…
There is often confusion surrounding zero rate, exempt, and out of scope supplies under UAE VAT legislation. While VAT Registration is not charged on any of these supplies, there are key differences to understand. Zero rate supplies are considered taxable, so VAT Registration uae is…
Sometimes businesses will bundle together two or more goods or services into a single transaction as a sales strategy to attract more customers. Combining goods and services can also be necessary if the nature of the items means they need to be supplied together. In…
The standard time frame for filing VAT return uae is quarterly, meaning every 3 calendar months. However, some businesses may be required by the Federal Tax Authority trn verification (FTA) to file monthly instead. VAT return uae must be submitted by the 28th day after…
With the introduction of VAT in the UAE on January 1, 2018, businesses operating in Free Zones were concerned about the impact of VAT Registration on their operations. As a first step to provide clarity on free trade zones, the UAE VAT Executive Regulations defined Designated Zones…
