UAE Amends VAT Executive Regulations

The FTA (Federal Tax Authority) in the UAE has officially published its updated version of Executive Regulations under the Federal Decree Law Number 8, 2017. This pertains to value added tax (VAT) and has been published on the official website […]

Impact of VAT on health services in the UAE

The UAE (United Arab Emirates) introduced its rate of VAT at 0% on the 1st of January, 2018, for health services which were specified. This indicates that in case specific criteria are adhered to, VAT will not be charged on […]

IFRS and GAAP- What is the difference?

Standards which regulate financial accounting and reporting will vary from one country to another. In the USA, for instance, practices of financial reporting are laid down by the FASB (Financial Accounting Standards Board) and are organized within the GAAP (generally […]

How to deal with VAT on imports

The United Arab Emirates (UAE) is the biggest exporting State amongst all the Gulf Cooperation Council (GCC) States. The country exports several vital products including precious metals, electronics and stones among other options. It is the world’s 29th biggest export […]

VAT for Education in UAE

VAT for education in the UAE is either exempted or zero-rated. It needs some elaboration for a proper understanding of the implication of VAT in the UAE The Federal law, Article 40 of 2017; stipulates an exemption in VAT for […]

VAT Transaction Advisory Services in UAE

With the beginning of VAT in the UAE, meeting VAT commitment has been and persists to be an enduring test for businesses with current modification in the resulting tax regime. With time, VAT legislation will possibly to undergo regular changes, […]

How to Prepare VAT invoice in UAE

Tax voice is considered as one of the most vital testimonies that are to be promulgated through a registrant when a payable/taxable supply of some materials is manufactured. The VAT in UAE states that it is essential that all registrants […]

Incorporation of VAT in the GCC

The Gulf Countries is now introduced to a new kind of Tax Reform since 2018. The GCC group has worked jointly on various public policies for the betterment of the nations and now they have designed a collaborative VAT agreement […]