What is the Profit Margin Scheme? UAE VAT

Profit Margin Scheme

When filing your VAT return, you would have noticed a question asking if VAT was charged under the profit margin scheme. Do you know what it is, or what to answer in your tax return? If you do not charge VAT under the profit margin scheme you must make sure you correctly answer “no” to […]

5 Compliance Requirements in the UAE You Must Know About

Compliance Requirements in UAE

When advising clients on setting up a business in the UAE mainland, one of the most commonly asked questions is what are the compliance requirements in the UAE. Here we have curated for you a list of compliance requirements you must be aware about before entering into the UAE market, and taking advantage of the […]

5 FAQ’s on Non Recoverable Input VAT

5 FAQ's on Non Recoverable Input VAT

One of the most frequently asked questions by our clients in the UAE is whether input VAT on certain expenses is recoverable or non recoverable. So here we have answered some of the most important and frequently asked questions about Non Recoverable Input VAT. You need to be very careful on input VAT recovery when […]

Revealed – Amendment in VAT Penalties

Revealed – Amendment in Tax Penalties The FTA has recently announced an amendment in VAT penalties that will be levied post 28th June 2021 and waiver on existing penalties imposed prior to 28th June 2021. Here we will discuss some of the major takeaways from this update from the FTA’s announcement. Definitely read this: It […]

Classification of VAT for Universities

VAT for Universities

Do you have a university or higher education institute in the UAE? You need to know what are the different classifications of VAT for Universities or Higher Education Institutes? It is possible for you to have all the three types of Value added taxes – Standard Rated ( 5% ), Zero Rated ( 0%) & […]

VAT classification for Schools & Nurseries

VAT classification for Schools & Nurseries

Do you run a school or nursery, or in the accounts department of the same? Are you aware of the different VAT classification for Schools & Nurseries in the UAE? The education industry is one of the industries which has all the 3 types VAT – Standard Rated ( 5% ), Zero Rated ( 0%) […]

Explained: UAE VAT Rules for Education Sector

UAE VAT Rules for Education

UAE VAT rules for education sector has always been a confusing topic. That stops now. We are here to solve some of the common confusions with the VAT treatment in the education industry of the UAE. Over our years filing VAT for our clients, we have often had to field questions from clients. This guide […]