The Federal Tax Authority will get tough on companies, which are obliged to register for value-added tax (VAT) but have not done so from next month, said a senior official. Khalid Ali Al Bustani, director general, Federal Tax Authority, said during a media briefing on Wednesday that the postponement of the penalty for late registration […]
Courtesy: Khaleej Times The Federal Tax Authority (FTA) and Dubai Land Department (DLD) have confirmed that the UAE’s recently introduced value-added tax (VAT) will have a limited impact on the real estate sector. In a statement on Tuesday, FTA and DLD said all real estate transactions, with the exception of the sale of vacant commercial […]
The tax authority told consumers to make sure the tax is included in final prices Dubai: A statement from the UAE’s Federal Tax Authority (FTA) on Sunday announced that the final reduced prices for goods on promotional offer must include the five per cent Value Added Tax (VAT). The five per cent tax is to […]
FTA Director Khalid Ali Al Bustani called on all businesses who have registered with the Authority to file their returns for the first tax period no later than February 28, 2018. The tax period ended on January 31, 2018. Registered businesses must submit their tax returns on a monthly or quarterly basis, as determined by […]
FTA introduces online VAT calculator, TRN verification service. The Federal Tax Authority (FTA) on Tuesday launched a Tax Registration Number (TRN) verification service on its website, where consumers can check the authenticity of tax invoices and ensure that the merchants and service providers issuing them are registered with the FTA. The Authority also debuted the VAT Calculator, which […]
Courtesy : Gulf News Developers in Dubai have so far not passed on the higher VAT-related costs they have been incurring on projects to property buyers. But this is a situation that cannot go on and some sort of price appreciation should start showing up in sales agreements, sources say. So far this year, there […]
Over 260,000 companies and over 10,000 groups (one or two companies in a group) have registered for value added tax since it came into effect earlier this month, director general of federal tax authority Khalid al Bustani said in Abu Dhabi on Tuesday. “We are satisfied with the implementation of VAT registration so far. […]
There are some traders who are charging value-added tax (VAT) without showing the Tax Registration Number (TRN) on the receipt. A tax invoice must include the name, address, and TRN of the registrant making the supply. An invoice must have a sequential tax invoice number or a unique number and date of issue, which enables […]
The basic Guide line for immediate compliance is prepared to communicate the compliance to be noted as part of VAT implementation. Please contact the assigned Auditor/ Accountant / consultant from EA Auditing and business management for specific guidelines and assistance. This document contains only base level information on compliance to be considered on priority. Please […]