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VAT & Tax Resources

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VAT Refunds – Improving Your Probability Of Success

VAT Refunds – Improving Your Probability Of Success

VAT Refunds - Improving Your Probability Of Success   During the course of submitting your VAT returns, your business may be in a VAT refund position which enables you to claim a refund from the Federal Tax Authority. VAT refunds are not automatically granted,...

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VAT Obligations for Freelancers

VAT Obligations for Freelancers

VAT Obligations for Freelancers  Operating as a freelancer in the UAE has become much easier during the last few years. The UAE has introduced several initiatives to allow individuals to commercially operate with a range of business license options that reduce...

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COUNTRY BASED GOVERNMENTAL TAX MEASURES

COUNTRY BASED GOVERNMENTAL TAX MEASURES

Country Based Government Tax Measures All major economies during the current COVID-19 crisis have taken some form of action to support local economies through fiscal policies and changes to tax rate. The introduced stimulus packages have various components of which...

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Benefits of Using a Certified Tax Agency in the UAE

Benefits of Using a Certified Tax Agency in the UAE

Benefits of Using an Certified Tax Agency in the UAETo support the introduction of VAT in the UAE, the FTA defined the role of Tax Agents to support businesses fully comply with the Legislation. Businesses can appoint qualified parties as Tax Agents to represent them...

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Are you sure you are 100 percent VAT compliant?

Are you sure you are 100 percent VAT compliant?

Are You Sure Your Prices To Consumers Are Displayed Correctly?- VAT Compliant?     Are you in the position of being confident that everything is compliant to the UAE VAT law? Then suddenly fined due to noncompliance; and it turns out that it is something so...

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Voluntary Disclosure vs Reconsideration Form

Voluntary Disclosure vs Reconsideration Form

Voluntary Disclosure vs Reconsideration Form   As a Registered FTA Tax Agency, several questions are usually posed from businesses on the appropriate use of specific processes set out by the UAE Federal Tax Authority. In this blog, we discuss the specific...

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5 Proven Cost Management Strategies for Business

5 Proven Cost Management Strategies for Business

5 Proven Cost Management Strategies for BusinessBusiness can be tough, especially when market demand slows and competition is intense. During these times businesses should pay closer attention to costs. Ask yourself “how much sales do we need to generate a $1 profit...

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VAT 5 tips for businesses on ‘Starting Up’ by Haroon Juma

VAT 5 tips for businesses on ‘Starting Up’ by Haroon Juma

Top VAT 5 tips for businesses on 'Starting Up' by Simply Solved's Managing Director Haroon Juma Haroon Juma MD of Simply Solved was invited to speak on the Top VAT 5 tips for businesses on 'Starting Up', hosted by Dubai Eye’s Natalie Lindo on fm 103.8. If you are...

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How can you assure Transactional VAT in your IT system?

How can you assure Transactional VAT in your IT system?

How Can You Assure Transactional VAT Accuracy In Your IT System?   In our earlier blog, we discussed the probable approach the FTA may take to undertake an audit. During a desk based audit, the FTA will focus on the transactions in your IT application Best...

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Is VAT On All Purchases Recoverable?

Is VAT On All Purchases Recoverable?

Is VAT On All Purchases Recoverable? Is VAT On All Purchases Recoverable?   VAT is designed as a consumption tax to be borne by the final consumer. Therefore as a VAT registered business you are eligible for VAT recovery on your purchases. However, this does not...

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UAE VAT Resources Survey Results

Recently, we requested input to understand the challenges for businesses in working with available official VAT online resources in the UAE. For any businesses ensuring key personnel are fully equipped is essential to avoid misinterpretations that may come to light under an audit and incur penalties.
Therefore, we asked respondents several pertinent questions to assess how effective these resources are to build effective VAT understanding and implementation approach to their business.

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Health Care -Transforming Finance Into An Asset

In January 2019, a well established Dubai Healthcare Provider was contacted by the Federal Tax Authority to submit their tax returns for 2018. Assuming they did not need to submit returns since they charged 0% for all their services, it came as a surprise to hear they needed to submit regular returns and accumulated late return penalties.

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