Tag: Taxation
AED10,000 Penalty for Late Corporate Tax Registration
The administrative penalty’s value is set in line with the late registration penalties imposed for Excise Tax and Value Added TaxThe Ministry of Finance...
The New Corporate Tax Structure in the UAE – Boon or...
The Ministry of Finance in the UAE has announced its new Corporate Tax structure which will come into effect starting June 2023, what impact...
Can GCC VAT Hikes Offset Covid-19’s Fiscal Impact?
Emergency tax measures introduced in the region include the extension by several months of due dates for filing tax returns, the reduction or elimination...
UAE Currently Does Not Intend to Increase VAT
The Ministry of Finance (MoF) has denied any plans currently to raise the Value Added Tax (VAT) in the United Arab Emirates. VAT is...
Saudi Arabia Triples VAT to Counter Economic Impact of Coronavirus
Saudi Arabia will increase its value-added tax, VAT, from 5 to 15 percent in July, the Finance Ministry said on Monday, as part of...
Saudi Arabia: Property Prices and Rents May Continue Weak Trend
Expats exiting the kingdom following the imposition of expat and dependent taxes; and the white land tax, are exerting downward pressure on sale...
MOF to Expand Scope of Excise Tax Starting from 1 December
The Ministry of Finance (MoF) announced today its decisions to expand the scope of excise tax starting from 1 December 2019. This includes Cabinet...
Ministry of Finance and Arab Monetary Fund to organise the Arab...
The forum is being organised in cooperation with the Federal Tax Authority and the International Tax and Investment Centre
The Ministry of Finance (MoF) and...
Double taxation agreement between UAE and Saudi Arabia comes into effect
The agreement enhances integration and cooperation frameworks in tax matters, and consolidation of financial, economic and investment partnership between the two countries
It...
UAE Government on the EU’s declaration of the list of non-cooperative...
The United Arab Emirates is committed to all international agreements, procedures and standards adopted and related to tax procedures, and works with all concerned...
VAT Refund for Tourists In UAE Starts Q4 2018
The UAE Cabinet has adopted a decision to implement the value added tax refund system for tourists, which will integrate between retail outlets with...
Why Are Indian Entrepreneurs Moving to Dubai?
The last edition of Dubai SME 100 ranking affirmed that maximum entrepreneurs in Dubai are from India. Not only the SME sector but Dubai...
VAT Has Limited Impact on Real Estate Sector
The Federal Tax Authority (FTA) and Dubai Land Department (DLD) have confirmed that the UAE’s recently introduced VAT will have a limited impact on...
VAT Registration Easy Through e-Services Portal, FTA Claims
The Federal Tax Authority (FTA) reaffirmed that registering for Value Added Tax (VAT) can be done in three easy steps through the e-Services portal...
UAE Optimistic For 2018 Despite Expecting VAT To Be A Challenge
New YouGov Omnibus research has found that despite expecting VAT to be a challenge in the UAE, residents are largely optimistic for the year...
VAT Calculator, Tax Registration Number Verification Service Now Online
The new services are part of the Authority’s efforts to protect consumers and prevent any attempts at price manipulation and profiteering.The Federal Tax Authority...
The Impact of VAT on Car Ownership in Dubai
Owning a car in the UAE is a big decision since it involves many hefty expenses including fuel, insurance, parking and maintenance. For those...
Designated Zones in UAE for VAT Exemption Revealed
The Ministry of Finance has clarified the details of Cabinet Decision No. (59) of 2017 on Designated Zones for the purposes of the Federal...