Based on reverse charge mechanism, the supplier will not have to charge and collect VAT on the items that are covered by this cabinet decision. The buyers will be having to calculated and declare VAT on their purchases and report it in their VAT return.
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In fast paced business environment, outsource accounting has become an important aspect of business, in fact it is a strategic choice for most of the companies in UAE. With the implementation of corporate tax regulation, VAT compliance and the increase in financial complexities..
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It is extremely important to upload all the required documents correctly and timely. Alpha Auditing offers time efficient corporate tax registration services in UAE. FTA has provide clear guidelines for the businesses who must register.
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The UAE has introduced significant amendments to its VAT laws, exempting certain entities to boost its investment appeal and support continued economic growth. Among the changes, investment fund management services are now exempt from VAT.
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The Federal Tax Authority (FTA) has provided clear guidelines and a list of documents required for VAT Registration in Dubai, UAE. To get a Tax Registration Number (TRN) for the business, one has to fulfill the requirements stated by the Government.
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The UAE’s Federal Tax Authority (FTA) has introduced corporate tax fines and penalties starting from August 1 for businesses that fail to follow the corporate tax law. Compliance with the UAE corporate tax law is essential to prevent penalties.
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FTA revised VAT fines and penalties after the approval from cabinet. The UAE cabinet allow FTA to reduce the VAT fines by 70%. Alpha auditing has experienced tax professionals who understand the tax laws and can help you reduce or completely waive the fines depending on the violation. Get in touch with tax experts.
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There are several entities that are exempted from Corporate Tax in UAE. If your annual profit is less than AED 375,000, you will not have to pay any tax. Organizations who are involved in natural resource extraction such as oil and gas are exempted from Corporate tax
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