FEATURED INSIGHTS

Value Added Tax (VAT) was introduced in the United Arab Emirates (UAE) on 1 January 2018 under Federal Decree-Law No. (8) of 2017 on Value Added Tax. Under the UAE VAT Law, businesses are required to register for VAT upon crossing the mandatory registration threshold (AED 375,000 in the last 12 months), while they also have the option to register voluntarily upon meeting the voluntary threshold (AED 187,500 in the last 12 months) Once a business receives its Tax Registration

Background In today’s global business landscape, it’s common for companies to purchase goods from a supplier and instruct the supplier to deliver those goods directly to the end customer — a practice often referred to as the “Bill to Ship to” model.  vat-implications-on-transactions-where-goods-are-supplied-to-a-uae-customer-but-delivered-outside-th But when these transactions involve both UAE and non-UAE parties, VAT treatment can become a grey area. Understanding how VAT ap

Hello Friends, You must be receiving an email from FTA with a subject line: (Reminder) Restriction on VAT301 Form Lets understand! 1. What is VAT 301 form? VAT 301 is an Import Declaration Form used for making VAT Payment on imports made by a person registered under VAT and have valid TRN. 2. Why are we receiving this email from FTA? This is a general reminder communication that this form will be deactivated from 23-02-2021 for all the users.  3. Is any action required? SITUA

Hi Folks! This morning I came across an interesting question from a friend who had come on a tourist visa to UAE. He had purchased an expensive camera through an online shopping website and wanted to know if he could get the VAT refund while leaving back to his country. UAE Government has a scheme in place for facilitating tourists who visit UAE, where they can claim the VAT (Value Added Tax) refund on their purchases made during their stay in the country. They can get a refu