The Federal Tax Authority (FTA) has confirmed that all purchases made through online shopping portals are subject to the same 5 per cent Value Added Tax (VAT) as any other purchase made through traditional outlets if the products purchased online are received within the UAE. The Authority explained in an awareness flyer issued on Friday […]
Read MoreBasic FAQ for VAT
Here’s a list of all the questions asked by our readers and Babu’s answers since we started this column. 1. Will my children’s school tuition fees be affected by VAT? No 2. Will VAT impact school expenses like bus fare, uniforms and text books? Yes, VAT is applicable on uniforms, text books and stationery. However, […]
Read MoreShould property owners registers for VAT?
If property is owned and self-used, registration is not required. If it is rented but if it is residential property more than 3 years old, registration is not required. However, if it is residential property newly constructed or a commercial property (irrespective of new or old), the registration is required, if the rental exceeds Dh375,000. [&hell...
Read MoreUAE Legal NEWS
United Arab Emirates (UAE) Legal System
The United Arab Emirates (“UAE”) is a Federation established in 1971 in the area previously known as the Trucial Coast in the Arabian Gulf. Seven Emirates, namely: Abu Dhabi, Dubai, Sharjah, Ras Al Khaimah, Umm Al Quwain, Ajman and Fujairah. For more information visit http://www.gulf-law.com/uaecolaw_legalsystem.html
Read MoreVAT Executive Regulations Published in the UAE
The Federal Decree-Law No. (8) of 2017 on Value Added Tax (VAT) has been signed by the Vice President, Prime Minister and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum. The deadline for VAT Registration will be before 01 January 2018. The final VAT executive regulations have been published on the website […]
Read MoreUnderstand Legal System UAE
Preparing the general budget and the final account has certain rules that have been set forth in the decree of Federal Law No. 8 of 2011. It also has a unified structure of accounts and a programme-based classification. As for public revenues, the Cabinet issues the rules based upon the minister’s suggestions. For more information […]
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