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…
UPDATE: FTA Releases List of Designated Zones
The Federal Tax Authority has issued Cabinet Decision no. 59 of 2017 on Designated Zones (“Cabinet Decision”) for the purposes of Federal Law no. 8 of 2017 on Value Added Tax (“VAT Law”). Art. 50…
UPDATE: VAT Seminar – VAT in the UAE and the Implications for the Shipping Sector
We are pleased to have presented Jasmin Fichte as a main speaker of the VAT seminar titled “VAT in the UAE- Implications for the Shipping sector” on December 6th 2017. The seminar was introduced by…
UPDATE: The New VAT Executive Regulations
The long-awaited Draft Cabinet Decision on the Executive Regulation of Federal Decree Law no. 8 of 2017 on VAT (the “Regulations”) have recently been issued by the Federal Tax Authority. The Regulations have provided guidance…
Doing Business in the United Arab Emirates
I. Key facts What are the key facts on doing business in the UAE? When considering doing business in a foreign jurisdiction, an investor must consider a wide range of commercial, political and capital security…
Legal 500’s Exclusive Interview with Managing Partner Jasmin Fichte
Managing Partner Jasmin Fichte on how Fichte & Co can provide value added substance in critical times where legal budget cuts have been made across industries. What do you see as the main points that…
Globalisation proves to be alive and kicking as OECD Common Reporting Standards enter the UAE
OECD Common Reporting Standards (or CRS) are global standards applied by financial institutions for automatic exchange of information, aimed at identifying the effective tax residence and any investment income, account balances and sales proceeds of…