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Sangani And Company

Chartered Accountants And Financial Consultants

Month: July 2018

VAT Public Clarification – Non-Recoverable Input Tax – Entertainment Services

UAE FTA has issued Public Clarification explaning the application of Article 53 of the VAT Executive Regulations with regards to VAT which is non-recoverable in respect of entertainment or hospitality of any kind.
kindly refer below link for complete writeup
https://www.tax.gov.ae/pdf/VAT-Entertainment-Services.pdf

Author sanganicoblogadminPosted on July 30, 2018Categories Uncategorized

Additions to Designated Zones in Abu Dhabi and Dubai

UAE FTA has added two new Designated Zones in Abu Dhabi and one Designated Zone in Dubai.
Kindly refer link for the revised list
https://www.tax.gov.ae/pdf/designated-zones.pdf

Author sanganicoblogadminPosted on July 5, 2018Categories Uncategorized

PROFIT MARGIN SCHEME – ELIGIBLE GOODS

UAE FTA has issued VAT Public Clarification on PROFIT MARGIN SCHEME – ELIGIBLE GOODS.
Kindly refer link for further details
https://www.tax.gov.ae/pdf/profit-margin-scheme.pdf

Author sanganicoblogadminPosted on July 3, 2018Categories Uncategorized

VAT – LABOUR ACCOMODATION – RESIDENTIAL VERSUS SERVICED PROPERTY

UAE FTA has issued VAT Public Clarification on – LABOUR ACCOMODATION – RESIDENTIAL VERSUS SERVICED PROPERTY.
Kindly refer link for further details
https://www.tax.gov.ae/pdf/Labour-Accommodation.pdf

Author sanganicoblogadminPosted on July 3, 2018Categories VAT

VAT TREATMENT ON COMPENSATION-TYPE PAYMENTS

UAE FTA HAS ISSUED VAT PUBLIC CLARIFICATION ON – VAT TREATMENT ON COMPENSATION-TYPE PAYMENTS.
kindly refer link
https://www.tax.gov.ae/pdf/compensation-type-payments.pdf

Author sanganicoblogadminPosted on July 3, 2018Categories VAT

Recent Posts

  • UAE Economic Substance Regulations – ESR
  • VATP013 – VAT Public Clarification – Disbursements & Reimbursements
  • Cabinet Decision No. (10) of 2019 CONCERNING THE IMPLEMENTING REGULATION OF DECREE LAW NO. (20) OF 2018 ON ANTI- MONEY LAUNDERING AND COMBATING THE FINANCING OF TERRORISM AND ILLEGAL ORGANISATIONS
  • CABINET OF MINISTERS RESOLUTION No. (32) of 2019 on the regulation of reports submitted by multinational companie
  • CABINET OF MINISTERS RESOLUTION No. 31 of 2019 CONCERNING ECONOMIC SUBSTANCE REGULATIONS

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  • UAE Economic Substance Regulations – ESR June 8, 2020
    Links to ESR laws and regulations https://www.mof.gov.ae/en/lawsAndPolitics/CabinetResolutions/Pages/312019.aspx https://www.mof.gov.ae/en/StrategicPartnerships/Pages/ESR.aspx
  • VATP013 – VAT Public Clarification – Disbursements & Reimbursements August 1, 2019
    Kindly refer link in UAE FTA website https://www.tax.gov.ae/-/media/Files/FTA/links/Public-Clarification/VATP013—Disbursements-and-Reimbursements.pdf
  • Cabinet Decision No. (10) of 2019 CONCERNING THE IMPLEMENTING REGULATION OF DECREE LAW NO. (20) OF 2018 ON ANTI- MONEY LAUNDERING AND COMBATING THE FINANCING OF TERRORISM AND ILLEGAL ORGANISATIONS July 22, 2019
    link https://www.mof.gov.ae/en/lawsAndPolitics/CabinetResolutions/Pages/201910.aspx
  • CABINET OF MINISTERS RESOLUTION No. (32) of 2019 on the regulation of reports submitted by multinational companie July 22, 2019
    https://www.mof.gov.ae/en/lawsAndPolitics/CabinetResolutions/Pages/BEPS_UAE_CBCR_Regulation_AR.aspx
  • CABINET OF MINISTERS RESOLUTION No. 31 of 2019 CONCERNING ECONOMIC SUBSTANCE REGULATIONS July 22, 2019
    H.H. Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai issued the Resolution of the Cabinet of Ministers No. (31) for 2019 concerning Economic Substance Regulations. Article 1 outlines the basic definition for the implementation of this resolution. The Resolution of the Cabinet of Ministers defined […]
  • UAE VAT – Further designated zones July 22, 2019
    UAE FTA has added three more free zones in Ras Al Khaimah as part of Designated zones which are: 1) Al Hamra Industrial Zone 2) Al Ghail Industrial Zone 3) Al Hulaila Industrial Zone
  • Felicitation as one of Super 100 July 1, 2019
    Mr Pratik Sangani has been felicitated as one of’The Indian Super 100 Middle East and Africa, Super 100 Vol 3, Next Generation and Enterpreneurs at Waldorf Astoria on 28th April, 2019.
  • VAT clarification on Donations, Grants and Sponsorships January 28, 2019
    UAE FTA has issued public clarification on Donations, Grants and Sponsorships in below link https://www.tax.gov.ae/pdf/VATP011%20-%20Donation%20Grants%20and%20Sponsorships.pdf
  • VAT clarification on Interests and Dividends January 28, 2019
    UAE FTA has issued Public Clarification on Interest and Dividends in below link https://www.tax.gov.ae/pdf/VATP010%20Interest%20and%20Dividends.pdf
  • Tourists in UAE wont get retrospective VAT refund September 10, 2018
    Per Khaleej Times report dated September 7, 2018 Tourists in the UAE are unlikely to get VAT refunds for purchases made before the refund scheme comes into effect from November 2018, For complete article kindly visit link https://www.khaleejtimes.com/business/vat-in-uae/tourists-in-uae-wont-get-retrospective-vat-refund
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