May 2018 – Sangani And Company

FTA has issued VAT guide on Directors Services in April 2018. Below is the link to the VAT guide

https://www.tax.gov.ae/pdf/director-services.pdf

UAE VAT ON DIRECTORS SERVICES May 5, 2018

FTA has issued VAT guide on Directors Services in April 2018. Below is the link to the VAT guide https://www.tax.gov.ae/pdf/director-services.pdf

VAT – DESIGNATED ZONES IN UAE January 27, 2018

Refer link for list of Designated Zones in UAE for purpose of UAE VAT per Cabinet Decision No 59 of 2017 on Designated Zones. https://www.tax.gov.ae/pdf/Cabinet-Decision-No-59-of-2017-on-Designated-Zones-for-the-purposes-of-the-Federal-Decree-Law-No-8-of-2017-on-Value-Added-Tax.pdf

FINAL UAE VAT EXECUTIVE REGULATIONS ISSUED December 3, 2017

KINDLY FOLLOW THE LINK https://www.tax.gov.ae/pdf/Cabinet-Decision-No-52-of-2017.pdf

VAT ADVISORY – ALL SECTORS November 6, 2017

VAT implications on the following relating to the client companies would be discussed: 1) Types of VAT rates 2) Input tax and output tax concept 3) Revenue 4) Time of incurrance of VAT 5) Contracts with customers and suppliers 6) Tax invoices format 7) Samples/ gifts/ complimentary 8) Deemed supply 9) Adjustments to invoices 10) […]

VAT REGISTRATION NOW OPEN October 8, 2017

Per article from Khaleej Times dated 8th October 2017: All businesses with a turnover exceeding AED 150m should apply for VAT registration before 31st October 2017. All businesses with a turnover exceeding AED 10m should apply for VAT registration before 30th November 2017. All businesses that must be registered by 1st January 2018 should submit […]

UAE Excise Duty Regulations issued September 29, 2017

Refer link http://www.tax.gov.ae/legislation.aspx for following regulations on Excise Duty issued by UAE Cabinet Decision No. (37) of 2017 on the Executive Regulation of The Federal Decree-Law No (7) of 2017 on Excise Tax; and Cabinet Decision No. (38) of 2017 on Excise Goods, Excise Tax Rates and the Method of Calculating the Excise Price.

UAE VAT ADVISORY DIVISION September 16, 2017

The Firm is pleased to announce formation of UAE VAT advisory division. The division shall be headed by its partner Mr. Pratik Sangani.

Federal Law No 8 of 2017 on VAT September 16, 2017

For complete text of the law refer to the link: https://www.mof.gov.ae/en/lawsandpolitics/govlaws/pages/vat-law.aspx Federal Decree Law No. (8) of 2017 on Value Added Tax has been issued, which outlines the tax scope, rate, responsibility for tax, supply of goods and services in all cases, including supply in special cases, supply of more than one component, supply via […]

Federal Law No 7 of 2017 – TAX PROCEDURES in UAE August 3, 2017

Kindly find attached link in Ministry of Finance – UAE website wherein attached is the Federal Law No. 7 of 2017 – Tax Procedures in UAE. The Executive Regulations relating to Tax shall follow in due course. https://www.mof.gov.ae/En/lawsAndPolitics/govLaws/Pages/default.aspx

Federal Tax Authority mandated to Audit tax compliance in the UAE August 1, 2017

The FTA may perform the audit at its office or the place of business of the person or any other place where they conduct business, store goods or keep records, in which case, the person must be given a prior notice of at least five business days. While conducting a tax audit, the tax auditor […]