UPDATE: FTA Clarifies the VAT Treatment of Compensation Payments
The Federal Tax Authority (FTA) has recently published a clarification on VAT treatment of compensation type payments, such as payments to settle disputes, and other contractually agreed compensation. Where a payment or fee is not…
Zero-Rating the Export of Services: A Basic Guide for Service Providers and Consultants
Whether to apply zero-rating to the export of services and how to do so, has been a recurring concern amongst businesses in the UAE, especially to those providing consultancy services. Federal Law no. 8 of…
UAE Shipping Companies Seek VAT Exemption
The UAE has climbed to sixth place in 2017 from seventh in 2015 on the list of the future leading maritime capitals. The UAE maritime industry is seeking exemption from the value-added tax as industry…
News Update: FTA Publishes Real Estate Guide to VAT Law
The Federal Tax Authority (FTA) has published a number of guides on its website to further assist taxpayers to understand the VAT Law for Real Estate, and the Regulations. There have been a few legal issues…
Summary of the new UAE VAT Law
On 23 August 2017, the UAE published Federal Decree Law No. 8 of 2017 on Value Added Tax (“VAT Law”) which comes into effect on 1 January 2018 and sets out the framework within which…