VAT Penalties
Amendment in VAT Penalties
The Federal Tax Authority (FTA) assigned a public clarification on 28th April 2021 with regards to the amendments for provisions under the Cabinet Decision No 40 of 2017 for administrative penalties.
The Federal Tax Authority (FTA) assigned a public clarification on 28th April 2021 with regards to the amendments for provisions under the Cabinet Decision No 40 of 2017 for administrative penalties.
A Tax Residence Certificate is an official document issued by the UAE Ministry of Finance. It is used to establish the country of tax residence for a legal entity or a company.
Outsourced accounting is basically employing a service that supports a full accounting department experience. This usually includes everything from the day-to-day transaction coding, accounts receivable, accounts payable, payroll & taxation to managing financial reporting.
Business valuation regulates the economic value of a business or business unit. Business valuation can be used to evaluate the fair value of a business for many reasons, such as sale value, establishing partner ownership, taxation, and or divorce proceedings.
Value-added Tax (VAT), was introduced in the United Arab Emirates (UAE) on 1 January 2018. The general VAT rate applied is 5% and it applies to most goods and services, with some subject to a 0% rate or an exemption from VAT.
Accounting is considered as the back bone of any business. Businesses these days want to maintain accounts in cost-effective manner, that adds value to their organization and achieves productive results.
Economic Substance Regulations in the UAE Economic substance regulations are the new cabinet decision endorsed by the United Arab Emirates (UAE) ministry through the Cabinet
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