VAT was implemented in UAE on January 1, 2018. Since then, businesses are subject to a number of requirements under the VAT Law. Each business enrolled for VAT has an obligation to file VAT returns with the Federal Tax Authority (FTA). However, UAE businesses continue to make VAT-related mistakes and […]
A new Cabinet Decree No. 105 of 2021 has been issued related to penalty waivers and penalty installments. The new cabinet decision will become effective on March 1, 2022. In accordance with this law, taxable persons can apply for installment payment or a waiver of administrative penalties in whole or […]
Some businesses have been drawn to the Gulf nation because of the duty-free regime. Now, a new UAE corporate tax erodes UAE’s tax-free status while Free-Zone entities will continue to receive tax incentives. However, we will see that the new Corporate Tax regime remains very attractive compared to other countries. […]