Difference Between Zero Rated VAT and Exempted VAT

Mostafa

Mostafa is a qualified Corporate Tax Consultant with over 5 years of experience gained in diverse intricate tax matters, he has high expertise in conducting tax negotiations and investigations with the Federal Tax Authority and other external Tax Bodies. He has vast experience in reviewing and drafting tax documents. Mostafa has also advised on a plethora of tax matters, he draws much attention to tax filing procedures and to offering professional investigations to underlining tax complexities.

Difference Between Zero Rated VAT and Exempted VAT

Value Added Tax (VAT) is a form of consumption tax imposed on the added value to goods and services at each stage of production or distribution. In the United Arab Emirates (UAE), VAT is set at a standard rate of 5%. However, specific goods and services either fall under a zero-rated or exempt category. This … Read more

Understanding the Foreign Tax Credit under UAE Corporate Tax

The Corporate Tax Law recently implemented in the United Arab Emirates (UAE) establishes the legal framework for imposing federal taxes on corporations. It encompasses essential provisions regarding foreign tax credit and withholding tax, imperative for comprehending the tax consequences for businesses operating within the UAE. This article offers an overview of these provisions and their … Read more

what are the Conditions to be a member of a Qualifying Group

The Federal Tax Authority published the Qualifying Group Relief Guide on April 3rd, 2024, UAE Corporate Tax Law to facilitate the taxable entities by streamlining and making it easy to understand the existing relief as per UAE Corporate Tax. The term “Qualifying Group” refers to a group of Taxable Persons that can transfer assets and … Read more

How UAE Nationals Can Claim Tax Refunds When Building New Residences

Tax Refund for UAE Nationals Building New Residences

Every year, a great number of UAE nationals achieve their dream of building a house where they can enjoy living together with their families. The construction of a home is a very expensive project and the prices of the expenses are always going up with the inflation. With the aim of supporting home construction among … Read more

Business Restructuring Relief in UAE

Business restructuring relief is covered under Article 27 of the UAE Corporate Tax that when a qualifying business is transferred between two tax-paying entities in return for shares or an ownership stake, there won’t be any immediate tax on the gains or losses from this transfer. To keep this tax relief, the shares or ownership … Read more

What is the Zero Government Bureaucracy Programme and its impact on tax?

What is the Zero Government Bureaucracy Programme (ZGBP)? The UAE government came up with the notion of a new program, Zero Government Bureaucracy Programme (ZGBP), which served as a revolutionary tool for improving the existing administration and ensuring a well-coordinated government structure. The objective of such initiative is to eliminate the double registration, aimless activities … Read more