by PREMA Team | Dec 9, 2024 | AML, VAT
The UAE has charged 15 individuals accused of tax crimes and money laundering. Dr. Hamad Saif Al Shamsi, Attorney-General of the UAE, ordered the referral of 15 individuals of various Arab nationalities to the criminal court, including some who are in custody and...
by PREMA Team | Nov 21, 2024 | VAT
VAT is an indirect tax levied on most goods and services supplied or acquired by businesses in the Kingdom, with certain exceptions. The Zakat, Tax and Customs Authority (ZATCA) has urged businesses subject to Value Added Tax (VAT), whose annual supplies of goods and...
by PREMA Team | Nov 7, 2024 | Corporate Tax, Other Tax, VAT
The UAE has offered a grace period to taxpayers to help them avoid fines and penalties resulting from tax records. The Federal Tax Authority (FTA) announced a new decision to support businesses in efficiently meeting their tax obligations, offering...
by Danissa Guotana | Oct 31, 2024 | Accounting, Business, Corporate Tax, VAT
The UAE has announced new laws to transform tax collection and record-keeping for businesses in the country. Under new rules, taxpayers in the UAE will be able to standardise and automating invoicing with new digital channels. The Ministry of Finance...
by PREMA Team | Oct 16, 2024 | Business, Corporate Tax, Other Tax, VAT
Dubai real estate tax rules will be made clearer as the Land Department teams up with Federal Tax Authority to streamline VAT collection on property sales. The Federal Tax Authority (FTA) and the Dubai Land Department have strengthened their strategic...
by PREMA Team | Oct 7, 2024 | Business, VAT
Changes to the UAE’s Value Added Tax (VAT) system are set to take effect on November 15, 2024, says the Federal Tax Authority (FTA). These updates will impact several sectors, with investment fund management and virtual assets receiving key exemptions. The amendments,...
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