VAT

VAT Recovery in the UAE

VAT Recovery in the UAE: How to Claim Input VAT Correctly Taxpayers often discuss value-added tax (VAT) liability, which is, in fact, output VAT. However, there are cases when a refund claim for VAT is made from the tax authority, referred to as input VAT or recoverable VAT. The simple…
Read More

VAT Compliance for SMEs in the UAE

Just like corporate tax, value-added tax (VAT) is also an integral part of the tax collection system in the UAE. It is applicable in most of the developed economies worldwide.  However, it started on January 1st, 2018, in the UAE. For businesses, VAT is not just a tax; it is…
Read More

Tax Evasion and Tax Avoidance: Key Differences

Tax evasion and tax avoidance are two concepts widely used in taxation. Businesses or even individuals can save their tax liabilities through various techniques that are either tax evasion or tax avoidance. Even though these involve saving tax liabilities, there is a massive difference in terms of legality and ethical…
Read More

UAE VAT Updates: 13 Key Changes in 2023

There have been some changes to specific provisions of the UAE Value Added Tax (VAT) regime announced by the UAE Ministry of Finance. The Federal Decree-Law No. 18 of 2022 introduces 24 changes. VAT  is a type of indirect tax based on general consumption. Most countries impose VAT on most…
Read More