VAT: Transfer of a Business as a Going Concern
Even though it has been quite a while since UAE introduced VAT, new clarifications keep coming and businesses need to be aware of these.
Public Clarification on Dubai Owners’ Associations and Management
Dubai Owners’ Associations were required to apply for VAT deregistration..
Voluntary VAT Disclosures can Result in Huge Penalties
UAE based businesses will have to pay penalties for voluntary disclosures, from the date of the original VAT return in which the error
Oman to announce 5% VAT from April
Oman has been facing severe economic crisis even before the spread of the COVID-19 pandemic and the fall of the crude oil prices.
VAT for E-commerce in UAE
The citizens and business owners in the UAE are still processing the thought of being a VAT payer; it is applicable to every entity which has a minimum turnover of...
Saudi Arabia Increases VAT to 15%
Saudi Arabia has decided to triple its VAT, from 5 percent to 15 percent. The measure is being taken to support the coronavirus-hit economy and it will be effective from...
VAT Errors and ways to Rectify them
When a person fails to charge and account for the correct amount of output VAT or does not recover the correct amount of input tax, it is considered as an...
Refund of VAT Paid on Goods and Services Connected with Expo 2020
Expo 2020 is a platform that promises creativity, innovation, and cultural diversity. With just months to go for the most awaited event, there is an air of uncertainty with regards...