VAT in UAE

Penalties and fines are unwanted burden for your business. We here at Aviaan Accounting help you avoid this extra burden by helping you and your business to be 100% complied with the UAE VAT Law. Let us first have a look on the different types of offences and penalties: S.No. Description of Offence Quantum 1

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Article wise analysis of UAE VAT Law

Article 1: Definition of Taxable supply has been provided in Article-1 of Decree law. A supply can be said to be Taxable supply if it satisfies below ingredients: Goods or Services must be involved in a transaction of supply. Consideration must exist as an equitable exchange for the goods or services. Two Persons must be

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Steps to submit VAT return in UAE

After almost 2 year of VAT implementation in The UAE, it’s estimated that 95% of the total registrants have completed their 1 st tax year. It’s high time for them to get themselves prepared for VAT Audit. VAT audit is a detailed examination of records and books of accounts of your business. It is an

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VAT was introduced in the UAE on 1st of January, 2018 to diverse its source of income for the benefits of public. VAT was applicable at a standard rate of 5%. Registering under VAT means getting recognized by the government of the UAE as an authorized supplier of goods and services. As per FTA, only

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How to apply for VAT registration Number?

Entertainment Services means those expenses which are incurred for activities which are meant to entertain personnel. One of the examples to understand this is free staff parties, food in office, free gifts given away etc. The FTA is of the opinion that the VAT incurred on goods purchased and services incurred, to be used for

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UAE VAT Return

With the introduction of VAT Law in UAE, business houses face problems and make small mistakes. These mistakes can cost the entity higher of AED 50,000 or 50% of Tax amount. As VAT is new to the region, it is imperative for business owners to be aware and comply with the new regulations in order

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Treatment of VAT

FTA has issued a clarification on treatment of re-imbursement and disbursement of expenses. In addition to that, FTA also issued clarification with respect to what constitutes disbursement and re-imbursement. To identify a payment as a disbursement, following points will clarify: The key consideration is whether or not the expense belongs to the supplier’s customer. The

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Compensation Payments are for any loss, breach of contracts, omission etc. This type of expense occurs in the normal course of business only. Recently, FTA has issues a clarification vide no.: VAT P 001, on VAT treatment on compensation payments. In order to charge VAT on compensation payments, it has to be satisfied as a

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How to apply for VAT registration Number?

With the introduction of VAT in UAE, all forms of digital marketing services are charged at a rate of 5% VAT. Digital Marketing services is being spread all over the UAE. The digital marketing will be in the form of : Search Engine optimization. Search Engine Marketing. E-mail Marketing. Other Social Media Marketing. The computation

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VAT Regime in UAE

The introduction of VAT in the UAE has led to changes in all sectors including the transportation sector. The transportation sector is considered as an enabler in any economy. The recent clarification issued by FTA, classified services under private and public transportation under the UAE VAT law. Clarification Private Transportation refers to all means of transportation

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