What VAT not recoverable by business?

Not all VAT paid by businesses (input tax) might be recoverable or refundable from the Government. These non-recoverable input VAT become additional expense or cost on business if not assessed properly prior to them being incurred. Thus, a careful planning...

VAT Recoverability from Bad Debt

VAT implementation in 2018, will highly likely to have an impact on cash flows and working capital. In line with regulations requirements, tax due needs is to be paid by the tax return due date, regardless of the collection from customers, or payments to suppliers...

VAT impact on the Education sector

The supply of educational services shall be zero rated if the following conditions are met: In accordance with the curriculum recognised by the Ministry of Education, Ministry of Higher Education and Scientific Research, or the competent government entity...

VAT in the United Arab Emirates

Value-added tax (VAT), also known in other countries as Goods and Services Tax (GST), is an indirect consumption tax imposed on goods and services at the following stages: Production; Supply; and Sale Effective 1sr January, 2018, VAT will be applied in the...

What VAT impact on Healthcare sector?

In accordance with the UAE Federal Decree-Law No. (8) of 2017, and GCC Common VAT agreement, most of the supply of goods and services in Healthcare industry will be subject to either the zero-rate or exempted. Zero-ratedmeans it is either/or: No VAT...

Is it time for your business to mature?

Federal Tax Authority’s (FTA) analysis suggests that VAT and ET will help the UAE strengthen its economy by diversifying revenues away from oil, and will allow to fund many public services. This is a sign of a maturing economy. Furthermore, as per global best...