Abu Dhabi has proposed to reduce tourism fees fro 6% to 3.5% and municipality fees from 4% to 2%.
Also proposed to reduce municipality fees for hotel rooms from aed 15 per night to aed 10 per night.
refer link for further details
Per article from Khaleej times dated 12 June 2018 Dubai shall be reducing municipality fees from 10% to 7% at its hotels/restaurants.
kindly refer to link for the complete article
FTA has issued format of Declaration by Registered Recipient of Gold and Diamonds.
Kindly refer link
UAE FTA has issued Decision no 3 on Tax Invoices.
Kindly refer link
UAE Federal Tax Authority has issued Cabinet Decision no 25 of 2018
on the Mechanism of Applying Value Added Tax on Gold and Diamonds between Registrants in the State
Kindly refer the link
FTA has issued VAT guide on Directors Services in April 2018. Below is the link to the VAT guide
Refer link for list of Designated Zones in UAE for purpose of UAE VAT per Cabinet Decision No 59 of 2017 on Designated Zones.
KINDLY FOLLOW THE LINK
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
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) Import Purchases from suppliers
11) Local purchases (Material and expense suppliers)
12) Capital asset purchases
13) Impact on cash flows and profitability
14) Impact on IT systems
15) Related party transactions
16) Additional accounting heads / chart of accounts to be maintained
17) Reporting requirements to federal tax authority
18) Time line of reporting and payment of VAT
19) Period for maintenance of records
20) Documents required for VAT registration.
21) Any other areas
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 their VAT registration applications before 4th December 2017 to minimize the risk of not being registered in time for the beginning of the new year.