UAE Corporate Tax | UAE set to impose 9% Corporate Tax in 2023

UAE set to impose 9% Corporate Tax in 2023

UAE set to impose 9% Corporate Tax in 2023. UAE Corporate Tax will apply on taxable income above AED 375K. UAE corporate tax will be the lowest in the world. Implementation of Corporate Tax in UAE The proposed model, which is due to take effect from next year, will apply to all economic activity in Read more about UAE set to impose 9% Corporate Tax in 2023[…]

Financial Audit for Trakhees | SAB Auditing

Financial Audit for Trakhees

Financial Audit for Trakhees Financial audit for Trakhees is required by all the businesses under the license of Trakhees authority for license renewal. Following are the zones which comes under the jurisdiction of Trakhees: Nakheel Limitless Dubai Maritime City All the businesses registered in the above mentioned zones must submit a financial audit report to Read more about Financial Audit for Trakhees[…]

VAT Refund Scheme For Expo 2020 Participants

VAT Refund Scheme For Expo 2020 Participants

VAT Refund Scheme For Expo 2020 Participants has been introduced by FTA. Participants in Expo 2020 can claim VAT refund incurred on expenses. The Federal Tax Authority (“FTA”) has issued Cabinet Decision no. 1 of 2020 (“Cabinet Decision”) on the Refund of VAT on Goods and Services for countries and organizations participating in Expo 2020 Read more about VAT Refund Scheme For Expo 2020 Participants[…]

How to submit VAT reconsideration form in UAE

How to submit VAT reconsideration form in UAE?

VAT Reconsideration Form in UAE VAT reconsideration form has been introduced by the Federal Tax Authority (FTA) in order to review the tax penalty appeals made by the taxable businesses or individuals.  Businesses in UAE must follow the rules and regulations of FTA in order to avoid VAT and excise tax fines and penalties. Any Read more about How to submit VAT reconsideration form in UAE?[…]

Economic Substance Regulations in UAE

Economic Substance Regulations (ESR)

Economic Substance Regulations (ESR) Economic Substance Regulations (ESR) in UAE has been recently introduced, and as a result, all UAE businesses that may be subject to these regulations should be prepared to take action and ensure compliance. This legislation (collectively, referred to as the “Economic Substance Regulations“) were issued in response to the UAE’s inclusion Read more about Economic Substance Regulations (ESR)[…]

VAT Refund for Tourists in UAE

Tourists can claim VAT Refunds in Shopping Malls and Hotels in UAE

Tourists can claim VAT Refunds in shopping malls and hotels in UAE. Visitors can reclaim their taxes on shopping from the Self-Service Kiosks which will be set up at major shopping malls and hotels across the UAE. “The Value Added Tax (VAT) Recovery Self-Service Kiosks for Tourists scheme has been expanded to be available at Read more about Tourists can claim VAT Refunds in Shopping Malls and Hotels in UAE[…]

VAT Deregistration in UAE

VAT Deregistration in UAE

VAT Deregistration in UAE VAT Deregistration in UAE is an online process. Businesses and individuals who are registered under Federal Tax Authority (FTA) can de-register from VAT in two situations: If their turnover did not exceed AED 187,500 in the 12 months after registering with the FTA, they must apply for the VAT Deregistration. If Read more about VAT Deregistration in UAE[…]

Voluntary Disclosure Form 211

VAT Voluntary Disclosure UAE

VAT Voluntary Disclosure A voluntary disclosure is a form provided by Federal Tax Authority (FTA) to allow businesses and taxpayers to notify FTA about the errors/mistakes and omission/changes in a Tax return or Tax Refund. A VAT Voluntary disclosure form 211 in UAE helps a taxable person to make correction in the errors they have Read more about VAT Voluntary Disclosure UAE[…]

Tax Errors for Construction Company

VAT for Construction Companies

Tax Errors and Fines for Construction Sector VAT for construction companies is a complicated subject. Construction sector will be included in the VAT regulations and will attract the Standard rate of 5% VAT. Companies in the construction sector needs to plan in advance due to the long term of their projects. There are complications in Read more about VAT for Construction Companies[…]