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Public Transportation Clarification by FTA
A public statement was made by FTA to clarify on the treatment of public transportation under the UAE VAT Law, and identify what all vehicles are qualified to be treated as zero-rated under the law. According to the Clause (4) under Article (45) of the Federal Decree-Law No. 8 of 2017 on Value Added Tax
- Published in Uncategorized
Perform Pre-audit health check & assess VAT Penalty
Perform Pre-audit health check & assess VAT Penalty The FTA has been informing companies that they will be audited five working days after the date of the email sent to them for the year Jan 1st to April 30th, 2018, and May 1st to July 31st, 2018 tax periods. Businesses must get ready and ensure
- Published in VAT
50% REDUCTION ON COMMERCIAL FINES IN DUBAI
50% REDUCTION ON COMMERCIAL FINES IN DUBAI The Commercial Compliance & Consumer Protection (CCCP) sector at the Department of Economic Development (DED) has declared a cutback in commercial fines by 50%. Although, only the first fine issued in a calendar year can conform to this. It is now needless for traders to request for
- Published in VAT
MANDATORY DE-REGISTRATION AS PER FTA REGULATION
MANDATORY DE-REGISTRATION AS PER FTA REGULATION VAT-registered companies with a taxable supply of less than 187,500 in the past consecutive 12 months, are to de-register on or before January 20, 2019. Failure at doing so will result in the company being charged with a penalty fee of AED 10,000. According to the conditions specified in
- Published in VAT
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