VAT

[vc_row][vc_column][vc_column_text]What is VAT? Value Added Tax (VAT) is a transaction-based indirect tax that plays a pivotal role in the global economic landscape, with more than 180 countries, including the UAE, incorporating it into their tax systems. Understanding the nuances of VAT registration is crucial for businesses operating in the UAE to ensure compliance with tax […]

[vc_row][vc_column][vc_column_text] Money laundering is a global threat that affects everyone, from individuals to businesses and governments. The practice involves disguising the proceeds of crime as legitimate funds, making it difficult for law enforcement agencies to trace and seize them. Anti-money laundering (AML) laws and regulations have been put in place to combat this issue, but

[vc_row][vc_column][vc_column_text] With the Federal Tax Authority’s new integrated tax platform EmaraTax going live from 5th December, 2022. Here are the key features of the new UAE EmaraTax platform. Get assistance from UAE Emara Tax Consultants in Dubai to guide you through the new tax portal. [/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_column_text] What does the new EmaraTax Platform offer users? [/vc_column_text][vc_single_image

[vc_row][vc_column][vc_column_text] On 26 September 2022, the President of the UAE, H.H. Sheikh Mohamed Bin Zayed Al Nahyan issued the Federal Decree-Law No.18 2022 amending some provisions of the Federal Decree-Law No. 8 2017 on Value Added Tax (the VAT Law). The amendments will take effect from 1st January 2023. This is the first update to the

[vc_row][vc_column][vc_column_text] The FTA conducts VAT audit in the UAE to allow the government to determine if a registered business is adhering to the tax laws and specifications under the VAT Laws. The FTA will investigate whether the taxable persons have collected all the taxes and paid to the government within the allotted timeframe. During a

[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

[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