Providing the best VAT refund services Abu Dhabi, we would like to inform you all about securing tourist VAT refunds on your purchases in the UAE. The UAE is a customer’s heaven with extravagant outlets, glamorous shopping centers. It offers the best brands worldwide, and travelers can jump on the potential shopping opportunities when they visit the country. Hence, the UAE government’s choice to refund Value Added Tax (VAT) paid by sightseers on their buys is magnificent information for travel, tourism, and retail areas. Keeping with the worldwide act of absolving traveler buys from VAT, the Federal Tax Authority (FTA) carried out the VAT…
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Today, VAT BOX experts are here to help you with all you need to know about VAT Refund services. Tax is an unassuming, unexceptional word that can strike dread into the hearts of numerous who hear it for a valid justification. Assuming you are new to the laws or are not gifted at monetary accounting, it tends to be hard to figure out what you want to document on your expense forms. As far as deductibles, assuming that your business burns through a lot of money on business travel in the United Arab Emirates (UAE), and a portion of those costs incorporate Value…
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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 organizations for VAT. In any case, you should be extra cautious while recording VAT returns since a few normal mix-ups, for the most part, happen in this cycle. Mistakes you must avoid Entering sales in the wrong Emirates Most organizations tragically enter the deals in…
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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 for public government assistance. In the United Arab Emirates, organizations focused on excise tax guidelines to get themselves from weighty fines. VAT BOX helps you with excise charge enrollment. What products are subject to excise duties? An excise tax isn’t executed on a wide range…
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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 of goods and services exceed AED 375,000 over the previous 12 months. Taxable supplies are identified as all supplies of goods and services made by a Person that are not exempt. Voluntary Turnover for Registration: Taxable supplies and imports of goods and services exceeds AED 187,500…
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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 facility to cancel their VAT registration. Let us understand the circumstances in which a person can de-register under VAT and the process to be followed for the same. The Registrant must apply to the Authority for de-registration in any of the followings occurrence: 1) Business…
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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 used for business purposes subject to following conditions according to Article number 55 of Executive Regulations. The purchases should be used to make Taxable supplies of the business. Recipient receives and keeps the Tax Invoice – The recipient claiming input tax recovery on a supply…
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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 VAT 2. Import by a person not registered under VAT 3. Goods trans-shipped via UAE to other GCC countries 4. Goods imported to UAE and exported to other countries All importers in UAE should register for VAT before 31 December 2017 if their taxable supplies…
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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 to have security procedures in place to control the movement of goods and people to and from the Designated Zone; 3. Required to have Customs procedures to control the movement of goods into and out of the Designated Zone 4. Treated as being outside the…
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The 2019-20 coronavirus pandemic is an ongoing pandemic of coronavirus disease 2019 (COVID-19). The outbreak started in December 2019. The World Health Organization (WHO) declared the outbreak to be a Public Health Emergency of International Concern. Nearly 209 countries with more than 1.5 million confirmed cases recorded so far. The pandemic has led to severe global socioeconomic disruption,the postponement or cancellation of sporting, religious, and cultural events, and widespread fears of supply shortages resulting in panic buying. Schools and universities have closed either on a nationwide or local basis affecting approximately 91.3 percent of the world’s population. Considering this crisis…
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