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More than 4,500 companies and establishments have been registered since January 2019

Manama, Sept. 03, (BNA) The National Revenue Authority (NTRA) announced the continuation of the stage of registering companies and establishments for value added.The total number of companies and establishments registered since January 1, 2019 to date is more than 4500 companies and establishments, in continuation of the efforts undertaken by the Authority to achieve implementation […]

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“GAZT ” calls on businesses whose annual revenues exceed SAR 40 million to file tax returns before end of December

 Riyadh – 24 December, 2018: The General Authority for Zakat and Tax (GAZT) called on all businesses registered in VAT whose annual revenues from taxable goods and services totals SAR 40 million or more to file their November tax returns before the end of December. In a statement, GAZT noted that these businesses are required […]

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Expo 2020 Dubai to help drive VAT revenues over $8bn this year

Date: 14 Aug, 2019 External URL: https://www.arabianbusiness.com/politics-economics/425747-expo-2020-dubai-to-help-drive-vat-revenues-over-8bn-this-year Increased spending on Expo 2020 will help value added tax (VAT) revenues in the UAE push to over $8 billion (AED30bn) this year, according a Dubai-based tax consultancy. Revenues will also be boosted by a growth in retail, hospitality, aviation and shipping, but Rajiv Hira, chairman, RHMC Management Consultants, […]

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Federal Tax Authority launches new electronic system to register excise goods

Date: 17 Aug, 2019 External URL: http://www.wam.ae/en/details/1395302780330 The Federal Tax Authority,FTA, has launched a new electronic system for registering excise goods as part of its plans to continuously develop the tax system as a whole, and excise tax procedures, in particular. In a press statement issued today, the authority explained that the new system offers accurate […]

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New UAE tax rule on two products from November 1

Date: 19 Aug, 2019 External URL: https://www.khaleejtimes.com/business/local/fta-to-implement-phase-2-of-tobacco-marking-scheme The Federal Tax Authority (FTA) is ramping up its efforts in preparation to implement the second phase of the ‘Marking Tobacco and Tobacco Products Scheme’, where it will be expanded to cover waterpipe tobacco (known in Arabic as ‘Mu’assel’) and electrically heated cigarettes as of November 1, 2019. Digital […]

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Sugary drinks to cost more in UAE from January 2020

Date: 20 Aug, 2019 External URL: https://www.khaleejtimes.com/news/government/sugary-drinks-to-cost-more-in-uae-from-january-2020- The UAE will levy excise tax on additional sugary and smoking products from next year in order to reduce consumption of these unhealthy products linked to chronic diseases. The UAE Cabinet has approved a proposal to impose 50 per cent excise tax on products with added sugar and sweeteners, […]

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MoF announces amendment of the Cabinet Decision on excise goods, rates

Date: 21 Aug, 2019 External URL: http://www.wam.ae/en/details/1395302781065 In order to direct efforts towards reducing the negative effects of harmful consumption patterns, the Ministry of Finance announced the details of the amendment of Cabinet Resolution No. (38) of 2017 regarding excise goods, excise tax rates and the formula to calculate the excise price. In addition to the […]

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Expo 2020 will drive VAT in UAE by US$8bn

Date: 21 Aug, 2019 External URL: https://www.intergameonline.com/coin-op/news/expo-2020-will-drive-vat-in-uae-by-us8bn Dubai’s Expo 2020 will drive VAT revenues over $8bn this year, according to Rajiv Hira, chairman, RHMC Managing Consultants. However the large increases would not be sustained long-term. Hira, in a newspaper interview in the Arabian Business, said that over 300,000 businesses and tax groups registered for VAT would […]

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