An Essential Guide to VAT on Insurance Sector in the UAE
Under the UAE VAT regime, the insurance and related services are subject to the standard VAT rate of 5%. Also, the VAT incurred on costs that can be wholly attributed…
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Know About Tax Credit Notes to Stay on the Right Side of UAE VAT Law
The UAE VAT Decree-Law No (8) of 2017 defines a Tax Credit Note as a “written or electronic document in which the occurrence of any amendment to a Taxable Supply…
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How to Effectively Manage the Seasonal Business Slowdowns in Dubai?
Most businesses pass through a recurring cycle of a business slowdown, especially in Dubai. We call it the business cycle and it is a natural part of any economy though…
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Deemed Supplies Under UAE VAT Law: Key Insights for Taxable Entities
The UAE charges VAT at the standard rate of 5% on taxable supplies generally but there are many factors that determine what constitutes a supply as per the UAE VAT…
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What is Tax Registration Number (TRN) & Why it is Important in Taxation?
The introduction of the Value Added Tax (VAT) in 2018 has brought fresh changes to the UAE business landscape which has been hitherto known to be a no-tax regime. As…
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Tax Audit in the UAE: Know the Procedure & Prepare Yourself
The Tax Procedures Law (Federal Decree-Law no. 7) defines a Tax Audit as a procedure undertaken by the Federal Tax Authority to inspect the commercial records or any information or…
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Six Tips from UAE Accountants to Improve the Cash Flow of Businesses Post COVID-19
We must accept that the business community has quickly learned to adapt to and live with the challenges posed by the COVID-19 pandemic. We have successfully managed to stay afloat…
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What Businesses in Dubai Need to do to Avoid the Bad Debts?
A company falls into the bad debt trap when the customer fails to pay for the products or services of your company and you cannot chase the payment and collect…
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Amendment in Economic Substance Law: What UAE Businesses Must Do?
The UAE ESR Law has once again gained traction in the public domain as the government has brought some significant amendments to certain clauses. The businesses now need to resubmit…
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How to Apply for VAT Clarification to UAE Federal Tax Authority?
The VAT has been in existence in the UAE for more than two years, yet the taxable persons may still have uncertainties over specific clauses of the VAT legislation or…
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