The UAE Federal Tax Authority introduced a VAT refund for unregistered foreign businesses visiting the country. In this article, we’ll help business visitors and foreign businesses check whether or not they’re eligible in making a claim under the newly introduced VAT refund arrangement. Submitted claims for UAE VAT refund under the special recovery arrangement made … Read more
Public clarification EXTP007 has recently been issued by the UAE Federal Tax Authority to explain how to get the approval of excise tax relief in UAE for shortages or deficiencies of goods within UAE Designated Zones. It also laid out the official process on how to destroy excise goods within UAE Designated Zones. There are … Read more
At a recent cryptocurrency conference in Miami, the digital representation of the financial stock exchange bull was unveiled. Created by artist Furio Tedeschi, the bull signifies the world moving towards digital transactions and the use of cryptocurrency. What is even more intriguing when one looks at the robot-crypto statue is that it depicts the new … Read more
Before completing your VAT return filing in UAE, you should know there are financial measures that can significantly reduce the amount of Value Added Tax (VAT) you pay each tax period. These include deductions, credits, and more advanced relief or refund strategies. All these are practical steps for businesses to enhance VAT cash flow. There … Read more
The UAE Federal Tax Authority (FTA) issued a public clarification (VATP029) to provide gold jewelers or suppliers and registered dealers in the country guidance on the application of Value Added Tax on the supply of gold items, and products, and making changes. UAE VAT consultants can provide further clarity on indirect tax legislation in relation … Read more
A business in Dubai opens a second office in a building and signs a rental contract with the landlord. The duration of the contract is 5 years, and either party can end the contract at any given time by giving a 60-day notice. Both parties can adjust the contract duration if they all agree or … Read more
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