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How to Find a Good VAT Consultant in GCC?

Find out how to look and select for the right VAT advisor in GCC to avoid fees and fines, and to keep operations running. Companies these days have come to the aid of consultants for VAT advisory in Dubai. In the same sense, consultants have also taken the initiative to approach ...
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Ways to Grow your Business with Accounting

A lot of business enterprises tend to limit and less utilize the aspect of accounting for business productivity. Away from the fact that accounting’s major function is the management of business finances, it can also be an effective tool for generating massive income for the ...
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UAE VAT Reverse Charge Mechanism II

UAE VAT Reverse Charge Mechanism II

Reverse Charge Mechanism is a mechanism under which the recipient of goods or services is required to pay VAT instead of the supplier. It is applied as per Article 48 of Federal decree-law no. (8) Of 2017 on value added tax. It applies to the following:- If the Taxable Person ...
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UAE VAT Designated Zones

UAE VAT Designated Zones

Designated Zones are areas identified by the UAE Cabinet as eligible for special treatment under the UAE VAT law. A Designated Zone must be a specific fenced area, in addition to meeting all of the following requirements: It must adhere to strict control criteria laid out by the ...
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Taxation of Telecommunication & Electronic Services

Taxation of Telecommunication & Electronic Services

Telecommunication services means delivering, broadcasting, converting or receiving any of the services specified below by using any communications equipment or devices that transmit, broadcast, convert, or receive such service by electrical, ...

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Taxation of Financial Services & Islamic Finance Products

Taxation of Financial Services & Islamic Finance Products

Financial services are services connected to dealings in money (or its equivalent) and the provision of credit and include for instance (1) The exchange of currency, whether effected by the exchange of bank notes or coin, by crediting or debiting ...

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Taxation of Real Estate Services

Taxation of Real Estate Services

Real estate is generally considered to be property consisting of land or buildings, and includes: 1) Any area of land over which rights or interests or services can be created, 2) Any building, structure or engineering work permanently attached ...

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Taxation of Education Services

Taxation of Education Services

The supply of educational services shall be zero rated on the conditions that: (1) the supply of educational services is provided in accordance with the curriculum recognized by the federal or local competent government entity regulating the ...

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UAE VAT Related Parties

UAE VAT Related Parties

Related Parties are two or more persons who are not separate on the economic, financial or regulatory level, where one can control the others either by Law, or through the acquisition of shares or voting rights. Two or more Persons shall be ...

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VAT Profit Margin Scheme

VAT Profit Margin Scheme

Profit Margin scheme is in which, The Registrant may, in any Tax Period, calculate and charge Tax based on the profit margin earned on the Taxable Supplies. The profit margin is the difference between the purchase price of the Goods and the ...

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UAE VAT Reverse Charge Mechanism

UAE VAT Reverse Charge Mechanism

Reverse Charge Mechanism is a mechanism under which the recipient of goods or services is required to pay VAT instead of the supplier. It is applied as per Article 48 of Federal decree-law no. (8) Of 2017 on value added tax.

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UAE VAT Capital Assets Scheme

UAE VAT Capital Assets Scheme

Capital Assets Scheme is a scheme whereby the initially recovered Input Tax is adjusted based on the actual use during a specific period. If a Capital Asset is supplied or imported by a Taxable Person, the latter shall assess the period of use of ...

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Taxation of Healthcare

Taxation of Healthcare

Healthcare Services means any Service supplied that is generally accepted in the medical profession as being necessary for the treatment of the Recipient of the supply including preventive treatment. Supply of healthcare services shall be zero ...

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UAE VAT Tax Group

UAE VAT Tax Group

Tax group is a group of two or more Persons registered with the Authority for Tax purposes as a single taxable person in accordance with the provisions of this Decree-Law. The Executive Regulation of this Decree-Law will determine the instances ...

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