The Federal Tax authority (FTA) operates using the Tax Procedures law that permits the FTA to assess payable taxes, tax audits, determine tax evasion and issue administrative penalties. These tax assessments as stated can result in a decision to make the taxpayer pay penalties pertaining to a particular transaction or tax period. Reasons for possible … Read more
Since the introduction of Value Added Tax (VAT), a number of small- to medium-sized enterprises find it difficult to cope with the newly introduced VAT system, thus attracting fines. Most common mistakes made by small & medium companies when vat return filing in UAE: Non-maintenance of records Mistakes in simply calculating and paying value added … Read more
The newly issued public clarification released by the Federal Tax Authority of UAE provides a guide on the obligations of natural persons in UAE for the registration of VAT or Value Added Tax with respect to sole establishments. Natural persons who own several sole establishments only have to obtain a single registration for VAT in … Read more
As of April 2021 Oman will be the fourth of the six Arab Gulf states (following behind Dubai, Bahrain and KSA) to introduce VAT. This was decreed by the Sultan of Oman, his Majesty, Sultan Haitham bin Tariq bin Taimur and is actually part of a 2016 VAT union agreement involving all the Gulf States. … Read more
You may be wondering if payroll outsourcing in UAE actually does help your business or organization save money. A lot of our clients do! Every day, entrepreneurs are seeing the outsourcing of payroll processing in UAE as an incredible option for their businesses. More often than not, payroll outsourcing is done in order for company … Read more
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