by Noorjahan S. Yargatti | May 3, 2020 | English Topics, Uncategorized
A designated zone is an area where the customs will control the entry and exit of individuals and movement of goods. The designated zones are handled outside the state of the UAE, meaning that VAT is not imposed. Because it is considered as outside the country, not...
by Noorjahan S. Yargatti | May 3, 2020 | English Topics, Uncategorized
Under Article 45(14) of the vat Act of the UAE and Article 41 of the Executive Rule, the provision of healthcare services shall be valued zero. Health facilities provide fees for examinations, laboratory tests, fees for emergency rooms and medicines. Even other health...
by Noorjahan S. Yargatti | May 3, 2020 | English Topics, Uncategorized
UAE’s top imports are gold, diamonds, jewellery and automobiles. Exports and imports therefore are an integral part of UAE traders. Exports are considered supplies which are taxable. They are rated zero, however i.e. export tax is applicable at 0% is applicable....
by Noorjahan S. Yargatti | May 3, 2020 | English Topics, Uncategorized
An individual registered under VAT or rendered by the FTA can apply for VAT de-registration on determining that a person meets the conditions for de-registration. There are two conditions under which a business can apply for VAT de-registration in UAE The company...
by Noorjahan S. Yargatti | May 2, 2020 | English Topics, Uncategorized
The amount of economic benefits is the amount recoverable according to terms IAS 36. An entity is expected to determine at the end of any reporting period if there is any evidence that an asset may be impaired (i.e. its carrying amount may be greater than its...
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