The impact of VAT on small businesses in the UAE

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.

The impact of VAT on small businesses in the UAE

Value Added Tax (VAT) is a consumption tax imposed in the UAE on goods and services. VAT is applied to the value that is added to goods and services at each stage of production or delivery. Unlike some other taxes, VAT is paid by the end consumer. The typical VAT rate in the UAE is … Read more

VAT Late Payment Penalties in the UAE: FAQs

Value Added Tax (VAT) is a significant part of the taxation system in the United Arab Emirates, and businesses are required to comply with VAT payment, to which noncompliance accrues hefty fines. This article addresses distinct frequently asked questions (FAQs) regarding the UAE’s late payment penalties for VAT. Essentially, it is advisable for Taxable Persons … Read more

Required Documents for VAT Registration in UAE

A consumption tax, known as the Value Added Tax (VAT) is imposed on the value that is added to products and services at each step of production or distribution. In the United Arab Emirates (UAE), VAT was introduced on January 1, 2018, at a standard rate of 5%. The UAE government now relies heavily on … Read more

UK UAE Double Tax Treaty

The bilateral income and capital tax treaty, which came into effect on December 25, 2016, marks a significant development in the relationship between the United Arab Emirates (UAE) and the United Kingdom (UK). The treaty officially signed on April 12, 2016, represents a pioneering agreement between these two nations and encompasses a comprehensive range of … Read more

What is Small Business Relief under Corporate Tax in UAE?

Small Business Relief under UAE Corporate Tax

Small Business Relief, in the context of UAE Corporate Tax, is a supportive initiative tailored for small businesses classified as residents for tax purposes. Its core objective is to simplify its adherence to the Corporate Tax framework. Small Business Relief eases the regulatory burden faced by small enterprises, particularly during the initial phases of the … Read more

How to determine Taxable Income of a Tax Group under corporate tax in UAE

Determining the taxable income of a Tax Group under UAE Corporate Law is essential in ensuring the consolidation of taxable income within a group structure. Article 42 of the UAE Corporate Tax Law outlines the criteria for the formation of a Tax Group, a legal entity that consolidates financial outcomes, assets, and liabilities, ultimately resulting … Read more