Whether Management Fee or Director’s Service Fee is taxable in the UAE? Yes, the Director’s Service fee otherwise called as Management Fee is taxable under the UAE VAT Law. The Federal Tax Authority (FTA) has issued a guideline on applicability of tax on Director’s Services in the month of April 2018 (VAT Guide – VATGDS…
As far as VAT Registration is concerned, the Federal Tax Authority (FTA) has extended the VAT Registration cut-off date. The companies which were required to apply for VAT Registration in the beginning of the year for VAT has extended until April 30th 2018 without any penalty. The FTA is sure to get bumpy on those businesses…
Treatment of Bad Debts under UAE VAT Law What is Bad debts? If the amount due from the customer is not paid in time and customer rejects to pay the same it is called bad debts for the recipient. The rejection of payment by the customer can be for any reason for example, dispute in…
What is Excise Tax Audit? Excise tax audit is the verification of the excise tax liability of a taxable person for a particular Tax period. This is an examination to check whether the liabilities are reported correctly and are paid within the due date or not. What is the scope of Excise Tax Audit in…
The first value-added tax (VAT) return has given a cool off time for filing by the Federal Tax Authority (FTA) for easing reporting and compliance pressure on companies, especially SMEs. All companies must log onto the FTA’s website and check the tax period under their profile. Some of the companies have been given one month as…
What does VAT return filing mean? VAT Return filing is the official tax document to be submitted to the Federal Tax Authority before the due date. VAT Return filing has to be done by the Taxable Person at regular intervals depends upon his tax period. The VAT Return should show the details of any output tax…
The industry of digital marketing services is widespread across the UAE where it is rendered across in different platforms such as E-Mail Marketing, Social Media Marketing, Search Engine Marketing, SEO etc. With the introduction of VAT in UAE since 1st January 2018 these services are taxable at 5%. In the given scenario, marketing companies located…
Complete guide on Company Formation in the UAE | Emirates Chartered Accountants Group In the United Arab Emirates, Dubai is one of the booming Emirate with its magnificent infrastructure, intense and quick growing horizons, making it one of the biggest business hubs in the world. Dubai offers one of the best business strategies with its…
Value Added Tax (VAT) in the UAE is a new concept in the region. VAT will be effective from 1st January 2018 at a standard rate of 5% or Zero rated as the case may be. VAT is an indirect tax which is collected at each stage of production or sale and is also known…
What is Value Added Tax (VAT) & how does it work? VAT in the UAE is a type of general consumption tax which is collected incrementally based on the value added at each stage of production or sales. VAT is an indirect tax also known as the consumer tax. It is charged at each stage of…
