Artists Social Media influencers to pay VAT in UAE

Artists and Social Media influencers to pay VAT in UAE

Artists and Social Media influencers to pay VAT in UAE

The UAE’s Federal Tax Authority (FTA) on Sunday said that services provided by artists and social media influencers for consideration are subject to Value Added Tax (VAT). This announcement was shared in the latest Basic Tax Information Bulletin issued by the FTA on the tax treatment of supplies provided by artists and social media influencers.

The Bulletin highlighted that VAT applies to any online promotional activities performed on behalf of other businesses for a consideration, such as promoting a product in a blog or a video or otherwise promoting a business on a social media post; any physical appearances, marketing, and advertising related activities; providing access to any social media influencers’ networks on social media, and any other services that the SMIs may provide for consideration.

The FTA clarified that if an artist or influencer incurs any costs in providing a supply and subsequently recovers that cost from its client, such reimbursement falls within the scope of VAT in the UAE.

UAE-based artists and social media influencers, who make taxable supplies are required to register for VAT, provided the value of their taxable supplies and imports in the last 12 months exceeded, or is expected to exceed in the next 30 days, the mandatory registration threshold of Dh375,000.

Artists and social media influencers may also voluntarily register for VAT if the value of their taxable supplies and imports or taxable expenses incurred in the last 12 months exceeded or is anticipated to exceed in the next 30 days, the voluntary registration threshold of Dh187,500. Any such taxable person must issue tax invoices for all supplies subject to the standard rate of 5%.

It is noteworthy, artists and social media influencers providing taxable supplies and services are eligible for the recovery of any input VAT, with the exception of blocked items such as certain entertainment services, and purchased, leased or rented motor vehicles that are available for personal use.

If a non-resident artist or social media influencer contractually provides services to a VAT-registered recipient in the UAE, the artist or social media influencer would not be required to register for VAT as it is the recipient of such services who are obliged to account for VAT under the reverse charge mechanism.


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Use of Exchange Rates – Before and After 17th May

Use of Exchange Rates – Before and After 17th May

Use of Exchange Rates – Before and After 17th May

In UAE VAT, the supply of goods or services made in a currency other than UAE Dirhams is required to be converted into UAE Dirhams. Especially, for businesses engaged in the export of goods or services, issues invoice in other currency, let tell US dollar ($), should be converted into UAE Dirhams.

Now the question to be answered is what is the Exchange rate to be used in the VAT Invoice?

What exchange rate is to be used in the VAT Invoice?

The amount stated on the tax invoice should be converted into the UAE Dirham according to the exchange rate approved by the UAE Central Bank on the date of supply. The Central Bank started publishing the exchange rates on 17th May 2018.

For example, on 15th September 2018, the invoice is issued for the supply of goods worth 2500 US $. The exchange rate in the VAT invoice should be one that is approved and published by the UAE Central Bank. Let’s say the exchange rate published by UAE Central Bank on 15th September was AED 3.672500. Thus, the US dollar should be converted into UAE Dirhams at 3.672500 and the total amount in AED would be 9181.25.

What exchange rate to be used in the VAT Invoice prior to 17th May 2018?

The Central Bank has begun publishing the exchange rates on 17th May, 2018. Therefore, invoices issued from such date can use the exchange rate published by the UAE Central Bank. Now the worry is what would be the impact on the invoices which were issued prior to 17th May 2018 when the exchange rate was not published.

Since these invoices are already recorded and the amount is converted into UAE Dirhams using the exchange rate from various other sources (reason being the exchange rate was not published by UAE Central Bank), should the businesses revise the invoice considering the exchange rate available now on UAE Central Bank?

The answer is ‘No’

If any tax invoices are issued in a foreign currency prior to 17 May 2018 and if the amount is converted to UAE Dirham using a reliable source for exchange rates, revision of invoice is not required provided the same source has been used consistently. Examples of reliable exchange rate sources include:

  • Thomson Reuters
  • Oanda
  • Exchange rate published by a UAE bank

On visiting the UAE Central Bank, the historical exchange rates are available on its website for a period prior to 17th May, 2018. As mentioned above, there is no requirement for businesses to reissue historical tax invoices issued prior to 17 May 2018 to show the Central Bank exchange rate, provided the exchange rate used is from a reliable source and the same source has been used consistently.

In the event, a tax invoice is issued post 17 May 2018 but where the date of supply was prior to 17 May 2018, businesses should use the historical rates as published by the Central Bank.

Decimals to be used

Businesses must use the exact exchange rate as published by the UAE Central Bank, which includes using the same number of decimal places as published. For example, if the exchange rate for US Dollars is published as AED 3.672500, the full exchange rate should be used for the purposes of the tax invoice. It is not permitted to round off the exchange rate to fewer decimal places like AED 3.7

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Excise Tax Designated Zones – Calculation of financial guarantees

Excise Tax Designated Zones – Calculation of financial guarantees

Excise Tax Designated Zones – Calculation of financial guarantees

All Warehouse Keepers 1 (and persons intending to register as Warehouse Keepers) are required to provide a financial guarantee for each Designated Zone1 the Warehouse Keeper is responsible for. The amount of the required guarantee is determined by the Federal Tax Authority (“FTA”).

The FTA wants to acknowledge Warehouse Keepers with good governance of their tax affairs by reducing the amount of the required financial guarantee based on the Warehouse Keeper’s and the Taxable Person’s compliance history.

This Public Clarification provides guidance on how financial guarantees in respect of Excise Tax Designated Zones are calculated. This Public Clarification takes effect from 1 September 2022.

Summary

At the time Excise Tax was introduced in 2017, the FTA did not have sufficient compliance history to determine a compliance risk-based financial guarantee amount for Excise Tax Designated Zones.

In the past five years, compliance history has been monitored and, in line with international best practice, from 1 September 2022, financial guarantees will be determined using a different risk-based approach that considers certain variables. This approach benefits compliant Warehouse Keepers, as a good compliance history results in a lower financial guaranteed amount.

The amount of the financial guarantee in respect of each Excise Tax Designated Zone shall be calculated from 1 September 2022, as follows:

Step 1: Calculate the Guarantee Base based on the Excise Tax due on the average month-end stock over a period of twelve months.

Step 2: The FTA will determine the applicable and appropriate financial guarantee percentage based on multiple factors, including the compliance history of the relevant taxable person and the Warehouse Keeper, as well as the financial situation of the person required to provide the financial guarantee.

Step 3: The rate determined in Step 2 will be applied to the Guarantee Base calculated in Step 1 to calculate the preliminary financial guaranteed amount.

Step 4: The FTA will further determine the required financial guarantee amount in respect of the specific Designated Zone by adjusting the preliminary financial guaranteed amount if either the minimum or the maximum threshold applies.

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News Courtesy: FTA

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Awareness session for refunding VAT to UAE Nationals on building new residences

Refunding VAT to UAE Nationals on building new residences

Awareness session for refunding VAT to UAE Nationals on building new residences

Abu Dhabi, UAE 28 August 2022 – As part of the lecture series at Majalis Abu Dhabi at the President’s Court, the Federal Tax Authority (FTA) held an awareness session that was broadcast live on Majalis Abu Dhabi’s Instagram account on the procedure for UAE nationals to recover the Value Added Tax (VAT) incurred on building their new residences.

 The session was held remotely, bringing Emirati citizens together with a team of experts from the FTA who explained the process for refunding VAT to UAE citizens on the construction of their new residences.

 Speakers at the session clarified the steps to take in order to recover VAT through the FTA’s e-Services, starting with submitting the refund request with all supporting documents, all the way to receiving the refund amount by bank transfer to the applicant’s account, upon informing them of the final approval.

During the session, the FTA’s team of experts outlined the criteria for submitting a request for a refund of the VAT incurred on the construction of new residences by UAE citizens, explaining the steps needed to create and verify an e-Services account for new users, as well as how to create a special refund requests account, submit and track a refund request, the deadline for submitting a request, and the required documents. They also highlighted which potential applicants are eligible to recover VAT on their new homes, as well as which taxes are refundable.

The FTA experts noted that the Authority acknowledges and reviews all suggestions received from its customers, and acts upon those that offer applicable measures that can drive further development. Recently, there have been continuous developments to provide additional facilities for the VAT refund mechanism for UAE citizens in building their new residences. The new measures were implemented after consulting concerned citizens and taking their Observations and opinions into consideration. This forms a central part of the Authority’s approach to engaging stakeholders in the ongoing development of tax systems.

The experts went on to explain that, as of last year, an amendment was introduced to increase the period for submitting a refund request to 12 months from the date of completion of the new residence, instead of six, as it previously was. The completion date precedes the occupancy date or the date of approval and announcement of its completion by the competent authority in the UAE, which would issue a certificate of completion of the building/residence. Source: gov.ae

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Tobacco establishment shutdown for violating tax regulations worth Dhs91 million in Dubai

Tobacco establishment shut down for violating tax regulations

Tobacco establishment shut down for violating tax regulations worth Dhs91 million in Dubai

The Federal Tax Authority (FTA) carried out an inspection campaign in collaboration with the General Department of the Federal Criminal Police at the Ministry of Interior and Dubai Police General Headquarters – represented by the General Directorate of Criminal Evidence and Criminology (Department of Anti-Economic Crime) – which led to the foreclosure of a commercial establishment in the Emirate of Dubai that was trading tobacco products unmarked with Digital Tax Stamps.

In a press statement issued on Friday, the FTA revealed that all products in violation at the establishment were confiscated – a total of 5,430,356 packs with Dhs91,833,016.40 in due taxes.

The Authority implemented the necessary legal measures against the non-compliant establishment, as part of its efforts to strengthen control over markets in order to combat tax evasion, promote tax compliance, and protect consumers.

The Authority indicated that the joint campaign forms part of its continuous efforts to monitor the market, in collaboration with the relevant authorities.

The FTA called on all business sectors – including producers, importers, and stockpilers of tobacco and tobacco products – to comply with tax legislation in accordance with Federal Law No. (7) of 2017 on Excise Tax in order to avoid fines and penalties for non-compliance with tax laws and legislations.

The Federal Tax Authority stressed that its inspection campaigns use sophisticated digital control systems aimed at preventing the sale, circulation, or stockpiling of any type of product where due taxes have not been paid.

One of these systems consists of applying Digital Tax Stamps on the packaging of tobacco and tobacco products. The Stamps are registered in the FTA’s database; each of them stores information that can be read with a special device used by authorised inspectors, allowing them to verify that all due taxes on said products have been paid.

The Authority reaffirmed its commitment to enhancing collaboration and coordination with all relevant federal and local government entities in order to ensure tax compliance across all seven emirates.

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Maximum Amount of Cash Refund Under the Refunds of VAT for Tourists Scheme

Maximum Amount of Cash Refund Under the Refunds of VAT for Tourists Scheme

Maximum Amount of Cash Refund Under the Refunds of VAT for Tourists Scheme

The Chairman of the Board of Directors of the Federal Tax

Authority has decided:

– Having reviewed the Constitution,

– Federal Decree-Law No. 13 of 2016 on the Establishment of the Federal Tax Authority, and its amendments,

– Federal Decree-Law No. 8 of 2017 on Value Added Tax,

– Cabinet Decision No. 52 of 2017 on the Executive Regulation of the Federal Decree-Law No. 8 of 2017 on Value Added Tax, and its amendments,

– Cabinet Decision No. 41 of 2018 on Introducing the Tax Refunds for Tourist Scheme,

– Federal Tax Authority Decision No. 2 of 2018 on the Tax Refunds for Tourists Scheme,

– Federal Tax Authority Decision No. 1 of 2019 on the Maximum Amount of Cash Refund Under the Refunds of Value Added Tax for Tourists Scheme,

– Decision of the Chairman of the Board of Directors of the Federal Tax Authority No. 9 of 2021 on the Delegation to the Vice Chairman of the Board of Directors of the Federal Tax Authority, and

– Pursuant to the approval of the Board of Directors of the Federal Tax Authority on the memorandum on the Study of the Maximum Amount of Cash Refund of Value Added Tax Under Refunds of Tax for Tourists Scheme, at its 21st meeting held on 23/06/2022,

Article 1 – The Maximum Amount of Cash Refund

The maximum cash refund of Value Added Tax under the Tax Refunds for Tourists Scheme shall be AED 35,000 per overseas tourist per 24 hours.

Article 2 – Cancelation of Conflicting Provisions

 Any provision contrary to or inconsistent with the provisions of this Decision, as well as the Federal Tax Authority Decision No. 1 of 2019 on the Maximum Amount of Cash Refund Under the Refunds of Value Added Tax for Tourists Scheme, shall be abrogated.

Article 3 – Application of the Decision

 This Decision shall come into effect as of 1 September 2022

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UAE VAT Return and Excise Tax Return Filing Deadlines

UAE: VAT Return and Excise Tax Return Filing Deadlines

UAE: VAT Return and Excise Tax Return Filing Deadlines 

The Federal Tax Authority of the United Arab Emirates announced the final deadline for filing VAT returns and excise tax returns: 

Type of Return Deadline  
VAT return 29 August 2022 
Excise return 15 August 2022 

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VAT Fixed Establishment Risks in the UAE Employer Record

VAT Fixed Establishment Risks in the UAE: Employer Record

VAT Fixed Establishment Risks in the UAE

The risk of Fixed Establishment (FE) exposure to the Overseas company based on the UAE VAT regulations may result into a VAT registration.

  • Employer of record (EoR) – A UAE company [licensed to provide manpower and similar services] that serves as the legal employer of the employee on behalf of another UAE company/ Overseas company.
  • Fixed Establishment (FE) – Any fixed place of business, in which business is conducted regularly or permanently and where sufficient human and technology resources exist to enable the person to supply or acquire Goods or Services.

How We Can help?

  1. Determine if an Overseas Company with an EoR structure qualifies as FE.
  2. If qualifying as FE, the Overseas company should register for VAT based on the VAT registration threshold.
  3. After obtaining a VAT registration, ensure VAT is charged to customers for the supply of goods and services.

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VAT Incurring a financial loss by forgoing input credits

VAT: Incurring a financial loss by forgoing input credits?

Incurring a financial loss by forgoing input credits?

VAT: Incurring a financial loss by forgoing input credits?, Businesses often forgo input VAT credit if the purchase/expense invoice is more than 6 months old (or, 2 months in the case of monthly tax periods). Needless to say, such a tax position results in a financial loss to the business. Alternatively, the buyers could strain the business relations with the suppliers by asking to reissue a current dated invoice.

Such a practice to forgo credit is not just incorrect but also contrary to the specific clarifications issued by the Federal Tax Authority (FTA).

Input VAT credit may be recovered by a recipient/buyer in the VAT return of the tax period in which both of the following conditions are satisfied:

i) the buyer receives and keeps the valid tax invoices; and

ii) the buyer pays for the supply or intends to make the payment within 6 months from the due date of the payment.

If the buyer fails to recover the input tax credit in the first relevant tax period, then the credit can be recovered in the subsequent tax period. FTA has also clarified that input tax is only recoverable during the first two periods once the aforesaid two conditions are satisfied.

However, businesses incorrectly count the two tax periods from the date of the invoice. The two tax periods start only when both the conditions are satisfied.

Date of the invoice is not relevant

The first condition refers to the tax period in which the tax invoice is received and kept by the buyer. It does not refer to the date of issue of the invoice.

To illustrate, a tax invoice dated 25/02/2022 is received by the buyer on 15/04/2022. Assuming the quarterly tax periods of Jan-Mar, Apr-Jun and onwards, the first tax period in which the invoice is received is Apr’22-Jun’22.

Condition (i) is satisfied in the tax period Apr’22-Jun’22 even though the invoice is dated 25/02/2022.

FTA has reaffirmed the aforesaid position by clarifying that if the buyer has not received the tax invoice in the tax period when the supply was made, they may deduct the input tax in the tax period in which the tax invoice is received.

As disruptive as it may sound, the date of the invoice is not relevant for recovering input VAT credit. It is the date of the receipt of a tax invoice that is relevant.

The buyers also often ignore that the tax invoice should be in the correct format. In our previous Tax Conversation on 18 Dec 2021, the importance of a correct tax invoice containing the mandatory particulars was discussed.

Importance of intention to pay

The second condition requires that the customer should pay for the invoice or has the intention to pay within 6 months from the due date of the payment.

FTA understands the practicality of business processes. A company may receive a tax invoice but may not have an intention to make the payment until the internal approval process for the invoice is completed.

In the public clarification VATP017, FTA has clarified that the second condition will only be met when the buyer completes the internal approval process and forms an intention to make the payment within the prescribed period.

In other words, the second condition gets satisfied not on the receipt of the invoice or on the date of the invoice. It is satisfied when the internal approval process is completed and the intention to pay is formed by the buyer.

Where a tax invoice is received in one tax period and the intention to make the payment is formed in a later tax period, the two tax periods to recover input tax starts from such a later tax period.

Reduce your financial losses

Forgoing eligible input VAT credit is just a financial loss to a company. Business owners should ensure that the eligible input VAT credit is not let go of an incorrect understanding of the law. The correct tax position in summarised in the attached graphic timeline.

For any input VAT credit forgone in the past, the business owners could evaluate the option to submit a Voluntary Disclosure to recover such credits and financial gains.

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News Courtesy: khaleejtimes.com

Businesses must prepare for official FTA audits in 2022

Businesses must prepare for official FTA audits in 2022

Businesses must prepare for official FTA audits in 2022

MBG Corporate Services UAE and Khaleej Times are organizing a webinar titled, ‘Changing Landscape of Tax Compliances & Audit frameworks in UAE’ on January 26, 2022.

January 2022 marks four years since the value-added tax (VAT) was implemented in the UAE. The Federal Tax Authority (FTA) is increasingly introducing measures that affect how companies should manage and deal with their data and maintain their records.

MBG recommends that businesses must prepare for official FTA audits in 2022, as there is no need for a specific reason for the FTA to conduct an audit of a company. It can happen whenever the FTA decides to with five days issued notice.

Hosted and moderated by Sandhya D’Mello, senior business reporter at Khaleej Times, the webinar will have experts from MBG Corporate Services — Vipin Ahuja, associate partner; Deepak Variyan; associate director; and Laila Aziki, tax agent. The panel will focus on topics like recent tax legislative changes; tax audit framework; probable factors for tax audit selection; FTA tax audit process; common mistakes in VAT return filing & VD submission; significant Impact of administrative Penalties (before & after audit); and analysis before commencing the tax Audit by the FTA; and appeal process.

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8 Things You Didn’t Know About VAT In UAE

8 Things You Didn’t Know About VAT In UAE

8 Things You Didn’t Know About VAT In UAE

Value added tax (VAT) in UAE was implemented on 1st January 2018 to diversify the income resources and boost the economy. VAT consultancy quickly became the most sought-after service in the country. Companies started seeking the help of tax specialists to ensure they transition smoothly to the new tax system.

While the first day of VAT was met with confusion, people and businesses now have a basic understanding of how it works.

However, there are a few things businesses need to know in order to ensure compliance and implement best practices in their organizations. Here is a rundown of the 8 things you probably didn’t know about VAT in UAE.

1. PRICE HIKES COULD LAND YOU IN HOT WATER

Reports started to emerge in January that many companies were hiking the prices of their products and services. For example, some retailers raised the prices of their goods by 5%, in addition to the 5% VAT.

The Department of Economic Development proactively penalised companies engaging in such practices, and consumers are encouraged to report them. Your business should have a clear pricing structure that makes sense to the consumer. Increasing the prices of your goods without explanation can cause you to lose customers and may even land you in trouble.

2. YOUR BUSINESS CAN GET VAT EXEMPTIONS

This is important information for companies that want to set up their business in UAE. So far, there are three VAT categories; standard (5%), zero-rate and exempt. Companies registered as zero-rated can reclaim their VAT contribution for the goods and services they provide.

Companies that are exempt are either not registered for VAT, or cannot reclaim the VAT contribution. If you plan to start a free zone company, please note that you will be liable to pay VAT on the purchase of goods and services from outside the free zone.

3. VAT ON HOSPITALITY AND ENTERTAINMENT IS NON-RECOVERABLE

Should you get VAT recovery on entertaining guests at your business event? Article 53 of the tax law can be confusing for many businesses, so it’s normal to seek clarification on what is considered a business expense and what constitutes as entertainment.

Basically, VAT incurred on genuine business expenses is recoverable, such as food and beverages provided at a business meeting. However, if entertainment or hospitality is the purpose of a meeting, event, or gathering, VAT cannot be recovered.

4. SECOND-HAND GOODS SUBJECT TO VAT CAN BE SUBJECT TO A PROFIT MARGIN SCHEME

According to the Federal Tax Authority (FTA), second-hand goods which had previously been subjected to VAT can be considered eligible goods under the profit margin scheme. VAT is applicable on the full sales price of all goods that were purchased before VAT implementation.

Businesses that deal in second-hand goods should be careful when recording the sales of eligible and non-eligible items as it can impact their books of accounts. Items should be segregated based on eligibility to eliminate errors when filing for VAT recovery.

5. MAINTAIN ACCOUNTS AND RECORDS FOR AT LEAST 5 YEARS

According to the law, you are required to retain accounting and bookkeeping records for 5 years after the end of the tax period. These include records of imports, exports, tax credit notes, tax invoices, outward supplies, and more.

So if a tax invoice is issued on 20th January 2018, it belongs to the tax period January – December 2018. This means the invoice should be retained till 31st December 2023. Records for capital assets should be retained for 10 years while records for real estate should be retained for 15 years minimum from the end of the tax period.

6. VAT TO REMAIN THE SAME

When it was announced that VAT will be introduced at 5% from 2018 onwards, many businesses and consumers feared that the rate will increase over time. Despite initial fears, the UAE government has shown no indication of increasing the VAT anytime soon. Additionally, at 5%, UAE has one of the lowest VAT rates in the world.

While businesses can reclaim VAT, their major concern is how it affects the buying power of the consumer. With the VAT remaining constant, businesses, especially in the service industry, can keep their prices competitive and benefit from consumer retention.

7. TOURISTS CAN NOW GET A VAT REFUND

Starting Q4 of 2018, non-resident tourists can get a VAT refund on purchases they make from participating retailers, provided that the goods they purchase are not tax exempt. This is a good move by the government as the tourism sector is one of the largest contributors to the economy.

In fact, 11.3% of the GDP came from tourism in 2017, amounting to AED 154.1 billion. While this rule does not affect businesses directly, it can help VAT-registered retail and service companies to better market and sell their products to tourists.

8. YOU CAN SEEK VAT CONSULTANCY

Despite VAT being new, there are certified tax specialists in the UAE who can help you manage your accounts and books for compliance. Our team of certified tax specialists can assist you in properly recording and filing VAT to avoid penalties associated with noncompliance.

We are here to help you identify the challenges your business faces with VAT and guide you in overcoming these challenges. Get in touch with us today to get VAT consultancy and ensure you are doing business legally and lawfully in the UAE.

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VAT Registration The biggest error made by service exporters

VAT Registration: The biggest error made by service exporters

VAT Registration The biggest Error Made by Service Exporters

VAT registration threshold

To check the threshold, the laws require to aggregate inter-alia the turnover of ‘taxable supplies’ of the last 12 months or of the next 30 days. The turnover needs to be aggregated on a rolling basis and not on a calendar year basis.

It is the usage of the expression ‘taxable’ which leads to confusion for the business owners. As no tax is payable on zero-rated supplies, business owners incorrectly assume that the VAT registration is also not applicable to them as if their supplies are not taxable.

Taxable supplies, the common mistake

The expression ‘taxable supplies’ has been defined to mean a supply of goods or services for consideration by a person conducting business in the UAE and does not include exempt supply.

All supplies except the exempt supplies are treated as ‘taxable supplies. In other words, ‘zero-rated’ supplies are also taxable supplies.

“If you allow me to use tax jargons, it is not that the zero-rated supplies are not taxable. Such supplies are taxable at 0 percent VAT rate”, I continued while reviewing their past revenue numbers.

It is a common mistake to assume that zero-rated supplies are not taxable supplies.

Exception from VAT registration

UAE VAT law is very pragmatic and supports ease of doing business. If 100 percent supplies of a business are zero-rated, the law does not mandate to burden the business owners with periodic VAT compliances.

In the VAT-registration application itself, the applicant has an option to request an exception from registration as 100 per cent of its supplies are exported (zero-rated).

FTA is not obliged to accept such requests and acceptance is at the FTA’s discretion. If the request for exception is approved by FTA, the business/applicant will not be required to submit periodic VAT returns. The applicant is granted a Tax Identification Number (TIN) instead of a Tax Registration Number (TRN). A TIN Is also a 13-digit number suffixed with the letters ‘XC’.

Requesting such an exception is purely optional. A business owner may decide to go ahead with the normal registration and periodic VAT compliances.

But in either situation, timely submission of a VAT registration application is necessary.

Penalties

Once the taxable supplies (including the zero-rated supplies) exceed the registration threshold, a business owner is required to make an application to FTA for VAT registration. The registration application should be made within 30 days.

A Delay in the submission of the registration application (beyond 30 days) could attract a penalty of Dh10,000.

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News Courtesy: khaleejtimes.com

Ahmed Saleh Al Nuaimi Auditors and Accountants is a unique, high-spirited team of Certified Public Accountants ,  Chartered Accountants ,  Certified Management Accountants and Auditors making creative and innovative contributions to our clients and our community. The insights and quality services we provide help build trust and confidence among our clients. We offer an integrated array of specialized services including Audit, Accounting,Tax, Consulting and Advisory

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