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VAT Registration in UAE

VAT Registration in UAE and its Implication on the Businesses

It’s been two years since the VAT is implemented in the UAE. VAT implementation is progressing in the right direction with more companies registering for VAT indicating a positive market scenario. The Federal Tax Authority (FTA) has stated that the number of businesses registered for VAT in the UAE has increased to 312,000 since 2018. … Continue reading

Economic Substance Regulations in UAE

Introduction of Economic Substance Regulations in UAE

UAE is removed from the European Union (EU) blacklist and all thanks to the introduction of Economic Substance Regulations. The United Arab Emirates (UAE) was removed from the European Union’s blacklist by the Code of Conduct Group on Business Taxation on October 10, 2019. UAE had introduced the Economic Substance Regulations under the specific guidance … Continue reading

VAT in the UAE – Importance of Accounting and Book-Keeping

The arrival of 2018 saw the onset of the VAT era in the UAE. This phenomenon has given rise to mixed reactions among the residents and businesses in the UAE. Consumers feel that their buying habits have altered and that they have cut down the spending on luxury items. It can be observed that they … Continue reading