Category: Uncategorized

02 Jun

UAE launches new e-services for taxable persons

UAE’s Federal Tax Authority (FTA) has developed its e-services to include new features allowing taxable persons to link their accounts with an accredited tax agency, authorizing it to carry out registration procedures, submit tax returns, and complete tax transactions on behalf of the taxable person, who is kept posted with real-time updates. The FTA explained […]

22 May

Trading in gold and diamond exempted from VAT in UAE

In line with the UAE Government’s efforts to ensure an efficient implementation of the Value Added Tax, VAT, while employing best international standards and maintaining the competitiveness of the local precious metals sector, the UAE Cabinet adopted a law to introduce the VAT Reversed Charge mechanism for investors in gold, diamond and precious metals. This […]

19 May

UAE tax authority announces VAT refund procedure for Emiratis

No fees apply on requests for VAT recovery on the construction of new housing units The Federal Tax Authority (FTA) has set three requirements and procedures for UAE nationals to refund Value Added Tax (VAT) incurred on new residences. The conditions state that in order to refund VAT, applicants must be UAE national; the monetary […]

15 Jan

Federal Decree Law No. (8) of 2017

The law summarizes the calculation of due tax, recoverable input tax, capital assets scheme, adjustment of tax after the supply date, tax invoice, tax credit notes, tax period, tax returns and reclaiming of tax as well as carrying forward the excess of recoverable tax and tax recovery. The law also stipulates the provisions of tax […]

25 Aug

UAE Excise Tax effective October 1st, 2017

The Excise Tax Law shall come into play effective October 1st, 2017, in the UAE, Ministry of Finance has told Emirates News Agency, WAM. “The Tax shall impact all excise goods consumed inside the country, including all the country’s free zones and ports,” said Younis Haji Al Khouri, the Undersecretary of the Ministry of Finance, […]

12 Oct

Five-Year Federal Budget (2017-2021)

The first of its kind in the Arab world In October 2016, the UAE Cabinet approved the federal budget draft for 2017-2021, with an estimated spending of AED 247.3 billion over five years, making the UAE the first Arab country to prepare a periodic five-year budget. This budget is in line with the directives of […]