Cabinet Decision No. (10) of 2019 CONCERNING THE IMPLEMENTING REGULATION OF DECREE LAW NO. (20) OF 2018 ON ANTI- MONEY LAUNDERING AND COMBATING THE FINANCING OF TERRORISM AND ILLEGAL ORGANISATIONS
CONCERNING THE IMPLEMENTING REGULATION OF DECREE LAW NO. (20) OF 2018 ON ANTI- MONEY LAUNDERING AND COMBATING THE FINANCING OF TERRORISM AND ILLEGAL ORGANISATIONS The Cabinet, - Pursuant to the perusal of the Constitution; - Federal Law No. (1) of 1972 concerning the...
read moreReturning of Digital Tax Stamp related to excise goods to the FTA
Scenarios when the stamps need to be returned Following scenarios shall require when marks (Digital Tax Stamp) should be returned to the FTA: Where the person becomes aware that he no longer has the intention to use the marks for the purposes of affixing them to...
read moreDefinitions under Excise
In the application of the provisions of the Excise Tax, the following words and expressions shall have the meanings assigned against each, unless the context requires otherwise: State: United Arab Emirates. Minister: Minister of Finance. Authority: Federal Tax...
read moreProducts on which excise is paid in UAE
Excise Goods Tax shall be applicable on the following Excise Goods: Tobacco and tobacco products Tobacco and tobacco products shall include all items listed within the GCC Common Customs Tariff that are imported, cultivated or produced in the State. Carbonated drinks...
read moreSUPPLY OF SERVICES
Article (6) of decree law defines supply of services as any provisions of services including every supply that is not considered a supply of goods i.e every supply of services is supply which doesn’t fall under supply of goods There are certain cases where supply is...
read moreWhat is supply for VAT
Supply of services is anything that can be supplied other than goods and supply of goods shall mean physical property that can be supplied including: A transfer of ownership of Goods or the right to use them from one Person to another Person shall include for...
read moreHow to submit input tax apportionment application?
Input tax which is incurred in respect of goods or services which are used partly for making supplies that allow for VAT recovery and partly for making supplies for which VAT is not recoverable is known as “residual input tax”, and it must be apportioned between those...
read moreWhat is excise tax?
Excise Tax was introduced across the UAE in 2017. Excise tax is a form of indirect tax levied on specific goods which are typically harmful to human health or the environment. These goods are referred to as “excise goods”. When considering whether a product is an...
read moreProcedures of Tax Registration, De-registration and Amending Details of Registration
The following procedures with respect to tax registration and de-registration shall be followed: A Tax Registration application shall be submitted by the non-registered Taxable Person or any other Person who has the right to be registered to the Authority according to...
read moreAccounting records requirement in UAE
Keeping Accounting Records and Commercial Books 1.Accounting Records and Commercial Books shall include the following: a. Accounting books in relation to that Business, which include records of payments and receipts, purchases and sales, revenues and expenditures, and...
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