HOW TO FILE TAX RETURNS The Federal Tax Authority (FTA) has issued a 4 steps online procedure allowing businesses to simplify the tax return submission through their services portal. The Online submission system helps the businesses registered for Value Added Tax.  The first tax period ending on January 31, 2018, for some concern, they need to submit their tax returns before February 28, 2018. The tax periods is available on the FTA website, the VAT registrant can check their allocated tax period. The


VAT ON EDUCATION SECTOR In education sector, zero-rated VAT will be applied for Nurseries, preschools and schools. Private and public school education (excluding higher education) & related goods and services provided by the educational institution. Higher education provided by institution owned by the government or 50% funded by the government, and related goods and services. This means that a ‘Qualifying education institution ‘shall not charge VAT on the zero-rated educational services they provide and will be able to recover the VAT they pay on related

VAT on Business Visitors & Tourists

VAT on Business Visitors & Tourists Business Visitors Under Article (67) of Executive Regulations of Value Added TAX explain the VAT refund on purchases and expenses incurred by Business Visitors to UAE from Other Countries: The FTA will implement a VAT refund scheme for those visitors who are having companies and establishments in outside UAE. The refund will be on their purchases and expenses. But if the business visitor’s intention is to purchase for supply or sale the goods inside the UAE then this refund

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VAT Implementation Procedures

VAT Implementation Procedures Implementing VAT in an organization means updating and upgrading the entire ERP system and identifying the accounting obligations. Since it affects the entire area of your business VAT is not just considered as a tax issue and it should be considered as a business issue. Scope & Analyzing the Impact of VAT At the beginning, we have to identify the VAT impact on your business, estimate the cost of implementation, develop an implementation plan and allocate the resources. Implementation Process Based on

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VAT on Rental Contracts & Service Contracts

Need of Amendment of Rental & Service Contracts The Contracts that issued by many companies for rendering service after the implementation of Value Added Tax on January 1, largely face addressing the problems that could arise from the introduction of Value Added Tax.  Most of the contracts issued regularly without any contractual value added tax and many contracts will run across the implementation dates. So contracts should clearly state whether the price is inclusive or exclusive of a value-added tax. In

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Impact of VAT on Free Zone Companies

Impact of VAT on Free Zone Companies Under Article (51) of Executive Regulations of Value Added TAX Define the Designated Zones as follows: Any designated zone specified by a decision of the Cabinet shall be treated as being outside the state and outside the implementing states, subject to the following conditions: The designated zone is a specific fenced geographic area and has security measures and customs controls in place of monitor entry and exit of individuals and movement of goods to and from

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Value Added Tax for Residential Units

VAT for Residential Units A residential building is a building or part thereof that is intended and designed for occupation by individuals and mainly includes building that can be occupied by any person as the main place of residence. The first supply of new residential buildings within the first three years of it being constructed shall be zero-rated. All subsequent shall be exempt, even if within the first three years.  What is a Supply of real estate? A real estate supply can be either

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Administrative Penalties for Violation VAT Law

Administrative Penalties for Violation VAT Law Federal Decree Law No. (8) Of 2017 on Value Added Tax issued Resolution on Administrative Penalties for VAT law violation. According to the Article (76) of the Federal Law the Authority shall issue an Administrative Penalty assessment to the person and notify the person the same within five business days as of the date of issuance in any of the following case: Failure by the taxable person to display prices inclusive of taxes Failure by the Taxable person