All the companies based in the UAE have to abide by the VAT rules put forward by the Federal Tax Authority. However, in order to be fully compliant companies have to ensure correct implementation of VAT in all business functions. With the pressure of growth, changes in economy, plummeting sales and rising expenses, it is […]
FACTORS YOU SHOULD CONSIDER WHEN APPLYING FOR TAX REGISTRATION CERTIFICATE IN UAE
With the recent rules and regulations of the Federal Tax Authority in place, it has become mandatory for businesses in UAE to get their Tax Registration Certificate (TRC) and become taxpayers as soon as possible. It should be noted, however, that the tax system in UAE requires businesses to be extremely mindful of their actions, […]
BEGINNERS GUIDE TO IMPLEMENT VAT IN DIFFERENT FUNCTIONS OF THE BUSINESS IN UAE
Value-Added Tax (VAT) was introduced in the UAE on 1st January 2018, since then it has been one of the major concerns for all companies established in the country. Registering for VAT, getting the registration number and a tax certificate is only the first step of VAT compliance. Registration is a one-time activity, therefore, it […]
BE PROACTIVE AND BE READY FOR FTA AUDIT IN 2021
Since the past three to four years, UAE has focused considerably on smooth collection of VAT from businesses. So much so that the Federal Tax Authority has now started auditing businesses to make sure that they have complied with the VAT regulations. In a case where enterprises fail to comply, FTA makes sure that they […]
100% COMPLIANCE WITH VAT REGULATIONS WILL HELP YOU SAVE MORE THAN AED 50,000 IN PENALTIES
According to the new rules, UAE Cabinet has proposed a reduction in penalties for the taxpayer to make business easier in the region. However, the penalties for non-compliance are still harsh and may eat up a large chunk of a company’s business income, therefore, they must be avoided at all costs. In an event of [...]
STEP BY STEP VAT ASSESSMENT IN YOUR BUSINESS BY ACCBOOKS AS PER UAE VAT REGIME
All the companies based in the UAE have to abide by the VAT rules put forward by the Federal Tax Authority. However, in order to be fully compliant companies have to ensure the correct implementation of VAT in all business functions. With the pressure of growth, changes in the economy, plummeting sales, and rising expenses, [...]