Category: VAT Refund services
The first Value Added Tax (VAT) return provided the Federal Tax Authority (FTA) with a pleasant period for filing to ease reporting and regulatory pressure on businesses. All companies must log on to the website of the FTA and verify under their profile the tax period. The first VAT return
Bookkeeping handles the recording of day-to-day financial transactions and information. Bookkeeping is key component of an accounting system that helps to retain every transaction and information relating to the organization where necessary. There are many ways that accounting and bookkeeping services can help your business; in fact, accounting and bookkeeping
VAT on e-commerce in the UAE is assessed based on the location of the seller and the receiver. Online sales will be subject to a 5% VAT in UAE. In the field of e-commerce, buying products from an electronic channel, such as a website or a marketplace, is referred to
What Is Anti Money Laundering (AML)? Anti-money laundering (AML) applies to rules, legislation, and practices aimed at preventing suspects from passing off improperly acquired funds as lawful earnings. Anti-money laundering legislation can only apply to a small set of transactions and illegal behavior, but their consequences are far-reaching. AML laws,
The UAE’s Federal Tax Authority (FTA) declared that any person or group in the country has the right to apply to reduce or seek exemption from the penalty imposed for violating the country’s tax laws. UAE VAT Fines and Penalty Relief UAE Government on April 28, 2021 issued Cabinet Decision
WHAT IS A TRN NUMBER? The abbreviation TRN stands for Tax Registration Number. The FTA – Federal Tax Authority – assigns TRN numbers to businesses that register for VAT. When a company’s annual VAT taxable products and services reach AED 375,000/-, it is needed to register for obligatory VAT.The TRN
Are you a business owner looking to optimize your tax savings? Understanding corporate tax laws and implementing effective tax planning strategies is essential. Additionally, ensuring compliance with Value Added Tax (VAT) regulations is crucial to avoid penalties and maximize your savings. In this article, we will explore the key aspects of corporate
