VAT refund scheme: 4 conditions for UAE retailers to register

The Federal Tax Authority (FTA) on Saturday announced four conditions for retailers to register in the digital system of the Tax Refund Scheme for Tourists, which will come into effect as of the fourth quarter of this year. The FTA set condition that the retailer must be registered with the FTA and have a tax

Both water and electricity will be taxed at 5 per cent from January 1, 2018, according to a set of draft executive regulations. According to the document, water and electricity will be treated as supplied goods, and therefore subject to a 5 per cent value-added tax (VAT). This category of taxable goods are defined in

The UAE Council of Ministers on Monday has announced the penalties for violations of the country’s tax law. The Council’s meeting was chaired by His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai. The Cabinet decision states that a fine must be no less than

The new Excise Law or Federal Decree-Law No. 07 of 2017 sets the framework for the imposition and administration of excise duties in the UAE. The new excise law requires excise tax to be imposed on certain activities around specific goods, activities such as the production or import of excise goods in to the UAE,

The Federal Tax Authority will open online registration for tax purposes for businesses in mid-September 2017, head of Federal Tax Authority said on Tuesday. “The Excise Tax and VAT laws are expected to be issued during the third quarter of this year and the regulations concerning both laws in addition to federal tax procedures are

The UAE had announced its intention to the introduce value added tax (VAT) in the country starting January 1, 2018. The issuance of the final tax law has set the stage for implementation of VAT and meeting the implementation deadline. The new law comes after the UAE, represented by the Ministry of Finance, ratified the

  The UAE Cabinet recently approved a proposal by Sultan Bin Saeed Al Mansouri, Minister of Economy, to extend the period for existing companies in the UAE to comply with Federal Law No 2 of 2015 on Commercial Companies by one more year. Companies established before the issuance of the new law under Article No