Businesses will be responsible for carefully documenting their business income, costs and associated VAT charges. Businesses that meet the minimum annual turnover requirement (as evidenced by their financial records) will be required to register for VAT. Businesses that do not think that they should be VAT registered should maintain their financial records in any event,...

Setting up a business in UAE has 6 incorporation types. 1. General partnership-This type of company incorporation in Dubai is available to UAE nationals only. 2. Limited partnership- This type of company incorporation in the UAE is also known as Partnership in Commendams and It is made up of two types of partners: General partnership...

UAE is considered the world’s leading business hub and a lot of expatriates are planning to invest in the country. Before setting up a business in UAE, there are things you need to plan first such as: 1. What Type of business? The type of business you are planning will determine the license activity you...

Effective on the 1st of January 2018, UAE will be levying VAT at the rate of 5%. There will be no delay of the implementation for any business and no companies are exempted from VAT in UAE. It was confirmed by Minister Obaid Humaid Al Tayer during a session of the Federal National Council (FNC),...

UAE is a hub of Middle East and it is good place to do business. UAE especially in Dubai fast-moving place with a diverse and multi culture people. There are two options for business setup in UAE: in Mainland or in Free zone. A Free Zone Company is governed by the rules and regulations of...

Under the Federal Tax Law, all businesses in the UAE will need to record their financial transactions and ensure that their financial records are accurate and up to date. A supplier registered or required to be registered for VAT must issue a valid VAT invoice for the supply. To be considered as a valid VAT...

For Free Zones, Federal Tax Authority announced the supplies that will subject to Value added Tax as of January 1, 2018. Below table outlines that will be subject to the Value Added Tax: Free zones VAT rate Supplies of goods between businesses in designated zones Considered outside VAT system Supplies of services between businesses in...

The entire structure of the UAE Pavilion is expected to be completed by the end of 2019. It has an area of more than 15,000 square metres, made up of four floors with the top storey dedicated for hospitality with an area of 1,717 square metres. The 588-square-metre mezzanine floor will house support units, and...