Bringing VAT to the Emirates has not only stirred up many companies but also resulted to many organizations crossing government regulations and VAT laws in the UAE. Aside from not having to deal with it for so many years, there are a lot of details and basic do’s and don’ts of VAT are not followed. […]
VAT De-registration is a process where in the registered firm applies for cancellation of its registration. VAT De-registration is required when any taxable business no more exists or no more requires registration. De-registration of VAT means de-activation of the registration and the VAT number of the firm. Whenever a business stops trading or no longer […]
The Federal Tax Authority (FTA) has conducted several initiatives to help businesses in the UAE adapt to the implemented VAT. With VAT being in effect in the UAE for more a year and a half now, many businesses were able to successfully incorporate a system. However, it is inevitable for some, especially new entities, to […]
After a year of implementation, many companies in the UAE have smoothly adjusted to the existence of tax along the running of businesses. However, many are still adjusting and adapting the new system in their businesses and the need for proper tax accounting in the UAE – commonly for new entities. VAT is not a […]
After a year of implementation in the UAE, many businesses are still on rounds of understanding how to manage business tax to abide by tax laws and regulations. Tax compliance is highly important especially in the UAE where non-compliance is punished by high fines and penalties. On its first year, the Federal Tax Authority in […]
