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New online calculator to check authenticity of tax invoice | VAT in UAE

February 5, 2018 CEO Leave a comment

TA introduces online VAT calculator, TRN verification service. The Federal Tax Authority (FTA) on Tuesday launched a Tax Registration Number (TRN) verification…

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Posted in: VAT News

Dubai Economy clarifies VAT addition to Fitness First memberships | VAT in UAE

February 3, 2018 CEO Leave a comment

The government department said VAT can only be charged on health club memberships issued in 2017 if the initial contract mentions the tax Health…

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Posted in: VAT News
TRN is Sufficient, no need for VAT Certificate

TRN is Sufficient, no need for VAT Certificate

January 31, 2018 CEO Leave a comment

FTA stresses that tax registration certificate cannot be printed or downloaded using provisional TRN. The Federal Tax Authority (FTA) has urged…

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Posted in: VAT News Filed under: vat in uae
Expatriate Remittances would not attract VAT, says UAE Authorities As the Value Added Tax (VAT) is implemented from 1st January 2018, the UAE VAT authorities have clarified that the money remittance outflows will be exempted from levy of tax. “The five per cent VAT tax would be levied on the remittance service fees, rather than the remittances themselves,” said UAE Federal Tax Authority (FTA) director-general Khalid Al Bustani. Foreign Exchange and Remittance Group chairman Mohammed Al Ansari expected the rise in remittance services fees to range between 50 fils and AED1.5. In a statement to Emarat Al Youm, he said that the planned increase of service fees due to the VAT will have a slight impact and will not affect the remittance outflows. Exchange companies in the UAE would not increase remittance fees when the 5pc VAT takes effect in January 2018, he said. According to Mr Al Ansari, the UAE tops all other GCC countries in the overall volume of remittance outflows, based on Swift Group, the leading provider of financial messaging services. The UAE Central Bank also said that expatriate workers’ remittances outflows topped AED40.8 billion during the second quarter of 2017. Thus, VAT impact will be at minimal for the remittance as VAT will be implemented just on the service portion and the masses will be at ease with it in the coming times.

Expatriate Remittances would not attract VAT, says UAE Authorities

January 29, 2018 CEO Leave a comment

Expatriate Remittances would not attract VAT, says UAE Authorities As the Value Added Tax (VAT) is implemented from 1st January…

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Posted in: VAT News
Consumers in the age of VAT feel empowered

Consumers in the age of VAT feel empowered

January 25, 2018 CEO Leave a comment

Although VAT implementation in the UAE is well under way, various queries still arise in respect of the consumer experience…

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Posted in: VAT News Filed under: vat in uae
Private UAE universities begin charging VAT

Private UAE universities begin charging VAT

January 24, 2018 CEO Leave a comment

Private UAE universities begin charging VAT:   The implementation of the five per cent VAT (Value Added Tax) introduced by…

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Posted in: VAT News

VAT on online shopping in UAE?

January 22, 2018 CEO Leave a comment

VAT on online shopping in UAE? It is subject to the same 5% VAT as any other purchase made through…

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Federal Tax Authority Declares Timeline For VAT Return Filing

Federal Tax Authority Declares Timeline For VAT Return Filing

January 18, 2018 CEO Leave a comment

Federal Tax Authority Declares Timeline For VAT Return Filing This will ease reporting and compliance pressure on companies, especially SMEs.…

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Posted in: VAT News
Tax Registration Number a must for charging VAT

VAT on Real Estate

November 23, 2017 CEO 49d Comments

Owners of commercial properties in the UAE will need to keep in mind two deadlines related to the upcoming VAT.…

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Posted in: VAT News

VAT on Education

November 20, 2017 CEO Leave a comment

Under the VAT regulation, higher education institutes which are more than 50 per cent funded by the government, will not…

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Posted in: VAT News, VAT Notification

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