January 28, 2022 VAT Refund for New Residences VAT WHO IS ELIGIBLE ? The Claim can be made only by a natural person who is a UAE national. WHAT IS REFUNDABLE ? Expense must relate to a new building which is used as a residence of the applicant and his or her family. DOCUMENTS REQUIRED […]
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January 28, 2022 Highlights of VAT Public Clarification 024 – Adjustment on Account of Bad Debt Relief Tax Conditions to claim benefit VAT should have been accounted for and paid on the supply. Consideration for the supply should have been written off. More than 6 months should have been passed from the date of supply.
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January 28, 2022 Amnesty Scheme- VAT VAT The UAE launches an important amnesty scheme in which Taxpayers who currently have pending administrative penalties as on 28th June 2021 can reduce such penalties to 30%. As per Cabinet Decision No. 49 of 2021 –If all below conditions are satisfied, the FTA would redetermine the penalties at
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January 28, 2022 VAT Recoverables VAT Normally VAT is not recoverable in respect of entertainment or hospitality of any kind. BUT the FTA considers that certain normal incidental office expenses for general use that should not be treated as incurred for entertainment purpose. Examples of such sundry office expenses on which the FTA accepts a
January 28, 2022 How to become a Tax Agent in UAE Tax Agent What is the role of a Tax Agent? or Who is a Tax Agent? The FTA has made provisions for qualified and accredited individuals to help Taxable Persons with VAT compliance. Tax Agents are the people that work in this field. Here
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January 28, 2022 Why Internal Auditing is Important? Audit Why Internal Auditing Is Important? When it comes to adding value throughout an organization, there is no better source than internal auditing. Internal auditing is an independent, objective assurance and consulting activity designed to add value and improve an organization’s operations. The mission of internal audit
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