by admin | Nov 2, 2022 | VAT
The Federal Tax Authority (FTA) announced that it will be discontinuing the use of the eDirham system in paying taxes as of today, October 30, 2022, replacing it with Magnati, the smart payment option from First Abu Dhabi Bank (FAB). Magnati provides advanced software...
by admin | Nov 2, 2022 | VAT
The UAE Ministry of Finance announced amendments to some provisions of the Federal Decree Law No. 8 of 2017 on Value Added Tax (VAT), which will be effective from January 1, 2023. Under the changes, registered individuals who make taxable supplies will be allowed...
by admin | Apr 22, 2022 | Corporate Tax, VAT
The businesses across the UAE have adopted the new tax structure and increasing their compliance with regulations by posting a 2.42 percent growth in registration for value-added tax (VAT) during the first quarter of 2022, the latest data shows. The Federal Tax...
by admin | Apr 15, 2022 | VAT
Effective from April 15, the program allows FTA to receive reports from individuals on tax evasion cases, tax-related fraud, and violations of tax legislation. It also enables the authority to verify the reports and grant monetary rewards to informants when certain...
by admin | Mar 14, 2022 | VAT
According to a decision issued by the Sultanate’s tax authority on Sunday, barley, corn, wheat, soybeans as well as bird, poultry and animal feed have been added to the zero-VAT list, along with other items. Milk, meat, fish, poultry, fresh eggs, vegetables, fruits,...
by admin | Feb 11, 2022 | VAT
Issue If a VAT-registered individual holds fixed deposits, recurring deposits, or any other type of bank deposit, he or she can earn interest income on those deposits. Additionally, a VAT-registered person may earn dividend income by holding shares in a company. In...
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