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VAT Impact on Online Trading in the UAE

VAT has been implemented in the state of United Arab Emirates since 1 January, 2018. As the concept of VAT is new for the region, it is bound to impact the online transactions in the UAE. In the past few years, the evolution of online business in the UAE has been significant to an extent[...]
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Everything you need to know about Tax Agents in the UAE

Who is a Tax Agent? As per the Tax Procedures Law of the UAE, Tax Agent is any person who is registered with the Federal Tax Authority (FTA). Any taxable person in the UAE can appoint an agent to deal with the FTA on his/ her and aid in fulfilling responsibility of meeting his/ her[...]
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Should the Companies in Free Zones and Designated Zones Register for VAT?

The companies operating within the Free Zone areas are required to get registered for VAT in the UAE just like the companies operating outside the Free Zones. However, the companies operating in a Free Zone that has been classified as a designated zone by the government of UAE will be subject to slightly different VAT[...]
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VAT Invoice

VAT has been implemented in the UAE from January 1, 2018. A lot has been said and published about VAT and its impact on businesses, registration for VAT in the UAE, types of VAT, standard and exempt supplies, etc. However, there is one important element of VAT implementation that is not much talked about in[...]
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Impact of VAT on Restaurants in the UAE

The value added tax (VAT) has been launched in Saudi Arabia and the UAE on January 1, 2018. VAT is a consumption tax that is levied by businesses at each phase in the supply chain. Businesses providing restaurant services are required to charge VAT at 5% to its customers. As per the VAT law the[...]
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How to Implement VAT in your Business

Value Added Tax (VAT) has been launched in the UAE since January 1, 2018 as per the VAT agreement signed by all the member states of the Gulf Cooperation Council (GCC). In UAE, VAT will be levied on supply of goods and services at the standard rate of 5%. As per the VAT regulations there[...]
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Super Effective Accounting & Financial Management Checklist

EXCEPTIONAL FINANCE CHECKLIST FOR YOUR BUSINESS A company needs to be profitable in order to thrive and be successful, and whether it is a small and medium sized entity or a large listed company, having a team of qualified accountants is integral to determining whether the revenue earned is more than the expenditure incurred by[...]
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Types of VAT Supplies in the UAE

The applicability and reporting of VAT on supplies varies depending on the type of supply being made by the taxable person to its customer. There are many factors like location of supplier, place of supply, location of the recipient, and VAT registration status of the buyer and seller etc. which plays a key role in[...]
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