[vc_row][vc_column][vc_column_text] An objective assessment of the effectiveness of the VAT procedures, paperwork, and control measures is known as a VAT Health Check. It includes a review of VAT returns, analysis of relevant business transactions, and the maintenance of tax records as required by the law. There need not be a specific reason for the FTA […]
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[vc_row][vc_column][vc_column_text] Certain VAT fines and penalties UAE are imposed when requirements of UAE VAT law are broken. Every taxpayer should be aware of the circumstances that might lead to the position of these penalties by the FTA. VAT fines are imposed in the UAE when a taxable person fails to follow the administrative procedure required
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[vc_row][vc_column][vc_row_inner][vc_column_inner][vc_column_text]Are you planning for a business setup in Dubai? Dubai is a hub for businesses with a variety of zones. DMCC is the most desired Freezone for the business for their company formation as it has great benefits. In DMCC, the company gets 100% ownership, there will be no personal and corporate tax and many
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[vc_row][vc_column][vc_column_text] Background for including under the scope of AML [/vc_column_text][/vc_column][vc_column][vc_row_inner][vc_column_inner][vc_column_text]Precious metals and stones form an important part of UAE’s economy. Though they provide valuable and legitimate commodity to the global trading segment, experience shows that these sectors are under high risk of attracting illicit transactions. It is an easy channel to route, conceal or invest
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[vc_row][vc_column][vc_column_text] United Arab Emirates has always been a go-to place for businesses across the world, the major attractions being its ease of conducting business and Tax-Free environment. Being a Global Hub of business, UAE is currently directed towards adapting Global Tax Practices still maintaining its charm. The introduction of VAT and Corporate Tax are major
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[vc_row][vc_column][vc_column_text] VAT is an indirect tax on the supply of taxable goods & services in the UAE. Entities registered for VAT will be subject to a VAT audit voluntarily initiated by FTA to ensure that the entity has appropriately complied the law and all the tax liabilities are paid. The main purpose of VAT audit
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Accounting Services in Dubai for Real Estate Companies & it’s benefit. In real estate, the success of your firm is strongly related to your ability to focus on the core activities rather than the basic office jobs. Due to the instability of the real estate industry, you must keep up to speed on market developments
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What is the VAT reconsideration application? Often, even after following the FTA’s laws and regulations yet businesses have to face fines and penalties. In these cases, the taxpayer is not convinced by FTA’s decision. As a result, the taxpayer may request a VAT Reconsideration. UAE VAT penalty reconsideration is a procedure that allows a taxable
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Dubai Multi Commodities Centre (DMCC) Established in 2002 by the Dubai government, the goal of DMCC has been providing physical, market, and financial infrastructure in order to establish itself as a worldwide commodity trading center. It allows you to trade precious metals such as gold, diamonds, colored stones, pearls, and a variety of other items.
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VAT refund from UAE In UAE, it is mandatory for every taxable person to file a VAT return to the FTA. The need of applying for a VAT refund UAE arises when the input tax exceeds the output tax on the VAT return. When the taxable person makes the claim on the excess refundable tax,
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