Importance of Fixed Assets for a Business in UAE
What Are Fixed Assets in a Business? A fixed asset is something a company owns and uses to help earn money over many years. The business does not plan to sell these assets within a year. People call buildings, land, machines, vehicles, furniture, and computers fixed assets. These assets help a company run its operations, […]
Eligible Expenses for Input Tax Claim UAE Home
The UAE’s tax rules let some residents claim input tax when they build a home. This rule helps UAE nationals save money if they meet the set conditions. People need to follow all steps closely to make sure they qualify for this refund. Input Tax Recovery for Home Construction: What It Means The UAE government […]
Implications of VAT Registration for UAE Sole Establishments
What Is a Sole Establishment Under UAE VAT Law? A sole establishment is a business owned 100% by one natural person. The law does not see the business and owner as different people. A person can own many sole establishments, but all these businesses are counted together with the owner during tax formalities. The Federal […]
VAT Application on Banking Transactions in UAE
Banks in the UAE must charge VAT on some services at the standard 5% rate. You should know about these taxable services before you use your bank account. This knowledge helps you manage expenses, record them, and even claim input tax if you’re allowed. Let’s look at how VAT applies to everyday banking transactions in […]
VAT Rebate Calculation and Its Effect on Consumers
Suppliers often use rebates as part of their sales strategy. A rebate gives a customer a price concession and encourages people to buy more products from the supplier. People can find rebates in many shopping deals and marketing offers. Both suppliers and customers must know the impact of VAT on such rebates. This awareness helps […]
Commercial Activities Certificate UAE VAT Law
What Is a Commercial Activities Certificate? A Commercial Activities Certificate is an official paper. The Federal Tax Authority (FTA) issues it. This certificate shows that a business or person is registered for tax in the UAE. Before, the Ministry of Finance gave this certificate. Now FTA manages all details about VAT-registered people and companies. This […]
How to Get Tax Residency Certificate in UAE
Getting a tax residency certificate in UAE has become important for people and businesses who want to benefit from double taxation agreements. UAE has signed Double Taxation Avoidance Agreements with many countries. This certificate helps people and companies prove their residency in the UAE for tax purposes. In this article, we’ll discuss the process, advantages, […]
Role of Accounting in Hospitality Industry
Accounting keeps every business strong. People must use accounting to record expenses, revenue, assets, liabilities, profit, or loss. People in hospitality industry need to use a proper system. Hotels, restaurants, and travel services handle cash daily. They must maintain clear accounting records for each transaction. With proper accounting, management can monitor money that comes in […]
Tax Implications on VAT Free Sale Promotions UAE
VAT Free Sale Promotions in UAE Retailers often create new sales promotions in a competitive market. They announce “VAT free sales” or say “VAT on us” to attract customers. Sellers want to get more buyers with these offers. It is the seller’s duty to follow VAT laws and charge the correct tax on every sale. […]
Zero Rated & Standard Rate VAT UAE Healthcare Guide
Understanding VAT in Healthcare Industry Healthcare in the UAE is important for everyone. VAT services in this industry include many types of transactions. These transactions have different tax treatments based on the kind of service and people involved in it. People can’t say that all healthcare services are zero rated. You must review every service […]
