Archive for Category: blog

VAT GUIDE ON DESIGNATED ZONES

INTRODUCTION TO DESIGNATED ZONES: •♦ It is an area specified by a Cabinet Decision as being a “Designated Zone ‘’ •♦ It must be a specific fenced geographic area •♦ It must have security measures and Customs controls in place to monitor the entry and exit of individuals...

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VAT ON INSURANCE

INTRODUCTION : ♦ It is a contract which provides that the insured will become entitled to something on the occurrence of some event; ♦ The event must be one which involves some element of uncertainty; ♦ The insured must have an insurable interest in the subject matter of the...

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VAT REFUND FOR EXHIBITIONS AND CONFERENCES

CONDITIONS TO CLAIM REFUND  : ♦ The supply is of Exhibition and Conference Services ♦ The recipient of the Exhibition and Conference Services does not have a Place of Establishment or a Fixed  Establishment in the State ♦ The recipient of the Exhibition and Conference Services is...

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VAT ON CHARITIES

INTRODUCTION : ♦ VAT is chargeable on goods and services supplied by charities in the U.A.E ♦ The charity will be able to recover VAT on costs which directly relate to onward activities which are liable to VAT, subject to the normal VAT recovery rules applicable to...

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VAT ON DIRECTOR’S SERVICES

CONDITIONS FOR TAXABILITY OF DIRECTOR’S SERVICE : • It should be a supply of service • Services are for consideration • Services provided must be in the course of conducting business • Services are provided in the UAE • Service is not an exempt supply • The director undertakes...

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