When a company violates the VAT legislation, the Federal Tax Authority (FTA) makes the discretion to apply severe fines and penalties. Each VAT punishment in the UAE will cost no less than 500 AED, no more than quadruple the real tax amount or the amount…
Businesses rushed to register for the Value Added Tax (VAT) when it was implemented in the United Arab Emirates. To do business in any of the emirates, individuals or organisations that fulfil the threshold requirements—earning an annual turnover of AED 187,500 or more (voluntary) or…
Kindly find the list of documents required for VAT Registration- 1. Trade license 2. Passport, visa and Emirates ID of all the partners 3. MOA 4. Bank Account details 5. Email id and contact details 6. Office Address 7. yearly turnover report 8. Few high…
Although most of the services or goods in UAE are taxed at 5% VAT , there are certain goods & services that are exempt from VAT as mentioned earlier. If a product or service is considered as exempt from VAT, it is because it’s essential.…
VAT In UAE Freezone or Designated Zones There are a lot of free trade zones available in UAE, across Dubai, Abu Dhabi, Sharjah, Ajman, Ras Al Khaimah & Umm Al Quwain. Depending on the area of operations they are widely categorized as airport free zones,…
VAT Registration for ‘New Companies’ in UAE UAE is a paradise of business opportunities. The leaders of this country are giving utmost priority to support new businesses in the country. There are a lot of Government initiatives to attract entrepreneur’s & giving all the requirements…
