In an announcement followed by the introduction of the VAT regime in the UAE, the Federal Tax Authority (FTA) revealed a list of suppliers across the country’s various sectors to be subject to VAT. In addition, FTA also disclosed the list of supplies that apply to zero-rated tax. Some of the government activities and supplies […]

We all know that the United Arab Emirates has copious amounts of reserves of oil and gas and have a very flourishing Hydrocarbon industry. Except for Dubai, the country of UAE is heavily dependent on revenue from the oil and gas sector. The hydrocarbon sector plays a considerable role in the economy of the UAE. […]

The implication of the Value Added Tax is one of the latest development in the country which will impact not only the economy of the land but will also have an effect on its business relationships with the other countries. As this is a new tax implemented on almost all the companies that are present […]

Technology has become an intregal part of human life. Be it business or personal life, and technology has infused itself in every possible aspect. At a significantly fast pace, the technological invention has extended its arms and has held every possible business domain. Customized software is available in the market that has minimized the human […]

One of the most drastic change that got implemented in the GCC region was the implementation of VAT proceedings, which became a compulsion for the countries registered under GCC. The United Arab Emirates, being a part of the same circle, has implemented the VAT on 1st Jan 2018, backed by the idea that this would open […]

Whenever it comes to tax payment, it can be seen that individuals as well as organizations try to oversee it, or pay the same at the last minute.  Since its implementation, the VAT has mandated the business organizations to pay tax on time, which ultimately helps the government to strengthen the economy and take it […]

The implementation of VAT has been one of the turning points for the UAE market. It is quite well known that the Value Added Tax, commonly known as consumption tax, is an indirect tax which gets applied on the goods and services consumed. Although the concept of VAT in UAE has been adopted to fetch […]

The VAT has been introduced in UAE reasonably recently and has some huge implications on the business conducted in the country. If a company is registered under the VAT law, then the business is legally allowed to collect Value Added Tax from the customers and remit these taxes to the government. The VAT was implemented […]

One of the significant steps that were initiated by the GCC countries in 2018 was the inclusion of VAT in the world of business. The Middle East region is well-known for oil industries and fetches the revenue from the oil sources. In the past few years, the region has also concentrated on non-oil sectors and […]

The introduction of VAT has been relatively recent, but the impact of VAT in UAE is enormous. The VAT implementation was done at a standard rate of 5% (except certain items which are taxed at 0% or are exempted under VAT) from 1st January 2018. This rate was decided by all the GCC countries together and […]