VAT Box offers the best VAT Return filing services. Hence, we share some of the common mistakes one makes while filing VAT returns. Since January 1, 2018, when VAT was presented in UAE, organizations have followed different necessities under the VAT Law. Documenting VAT gets back to the Federal Tax Authority (FTA) is a significant movement for all enlisted […]

Along with VAT refund services RAK, we also provide Excise tax consultancy services. Excise tax is a roundabout assessment compelled by the UAE government to deal, buy, and create explicit labor and products. These items hurt human well-being and the climate. Excise is the inland assessment that is collected to control the utilization of these products and raise assets […]

Abu Dhabi, November 29, 2017 – The Federal Tax Authority (FTA) has called on natural and legal persons exercising business in the UAE to expedite their registration process for Value Added Tax (VAT) to avoid the risk of missing the January 1, 2018, deadline. Mandatory Turnover for Registration: This applies to businesses whose taxable supplies and imports […]

A registered taxable person is required to comply with the required rules and processes under VAT. Invoices have to be issued in the specified format, returns need to be filed on a timely basis and the tax due needs to be paid by the due date. The VAT Law provides registered taxable persons with the […]

Input tax is the tax paid by a person on purchases or inward supplies. This means that a person can reduce the value of input tax eligible for recovery from the tax payable and only pay the balance amount as tax. A registered business can recover the VAT paid on purchase of goods and services […]

Imports are taxable under VAT. When a person registered under VAT in UAE imports goods or services, the importer has to pay VAT on imports on reverse charge basis. This is in addition to customs duty levied on imports. The scenarios of import can be divided as follows: 1. Import by a person registered under […]

Cabinet Decision No. (43) of 2019 on Amending the List of Designated Zones Annexed to the Cabinet Decision No. (59) of 2017 on Designated Zones for the purposes of the Federal Decree-Law No. (8) of 2017 on Value Added Tax (effective 4 July 2019). Designated Zones are: 1. Subject to strict control criteria; 2. Required […]

UAE Cabinet issued the Cabinet of Ministers Resolution No.31 of 2019 for Economic Substance Regulations issued Subject On 30 April 2019. The Regulations apply to all UAE onshore and free zone companies that carry on a “Relevant Activity”. It is yet to be confirmed whether the Regulations will also apply to sole proprietorship and branches, […]

A VAT Administrative Exception is a mechanism which provides registrants with concessions / exceptions allowed by the Federal Decree-Law No. 8 of 2017 on Value Added Tax (“Law”) or Cabinet Decision No 52 of 2017 on the Executive Regulations of the Federal Decree-Law No. 8 of 2017 on Value Added Tax (“Executive Regulations”) if difficult […]

A value-added tax (VAT) is a consumption tax placed on a product whenever value is added at each stage of the supply chain, from production to the point of sale. The amount of VAT that the user pays is on the cost of the product, less any of the costs of materials used in the […]