The year 2019 has already seen a lot of changes in laws and regulations in the business and banking industry. New tax laws, variations in the Central Bank’s guidelines and changes in the bank compliance criteria can be labeled the major ones. Budding entrepreneurs planning to start or expand their business in the UAE will

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A Bad Debt is a loss that a company incurs when credit that has been extended to customers becomes worthless, either because the debtor is bankrupt, has financial problems or because it cannot be collected. During a transaction, the registered supplier charges VAT to the customer which is shown as output vat in its vat

Post VAT year 2018

Many organizations have faced issues since the introduction of VAT in January 2018. As many companies don’t pay attention to changing laws and regulations, they face complications regarding VAT Return fillings, form presentation, how software capture and interpret data etc. These often don’t comply with FTA’s guidelines and regulations. The FTA has stated guidelines for

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


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