Trusts & Firm Foundation

The main goal of any wealth management and succession planning is to preserve the family legacy and family owned and operated businesses. The regulatory framework of succession planning in the UAE includes both civil and Islamic law principles. However, as the DIFC has its own independent jurisdiction within the UAE, it is also empowered to…

UAE VAT Return Deadline on 28 June 2018

On 28 June 2018 the vast majority of VAT registrants will have to submit their first VAT Return to the Federal Tax Authority. This will be the first VAT Return, and the main question is whether these companies or individuals have prepared sufficiently for this task? The other important questions that any company or individual…

VAT: Till Slips and TRNS

  After 100 days in effect, people and companies alike seem to be coming to terms with the payment of Value Added Tax (“VAT”). There is one area though where there still seems to be some confusion and that is with Tax Invoices issued by retailers which are more commonly known as “Till Slips”. John…

VAT: The UAE versus the KSA way

  John Peacock, Head of Tax and Conveyancing at BSA’s Dubai office wrote an article for Emirates Law (published in the April 2018 edition) comparing the implementation of VAT in the United Arab Emirates and the Kingdom of Saudi Arabia. As the GCC countries start to move away from the oil-based economy models, they introduce…

Step by step guide to UAE VAT registration

  John Peacock,  Head of Indirect Tax and Conveyancing, and Tyne Hugo, Associate, wrote a comprehensive step by step process on how to register for VAT in UAE. The UAE VAT regime was implemented on 1 January 2018 putting into operation Federal Decree-Law No 8/2017 on Value Added Tax and Cabinet Decision No 52/2017 on the…

What is property flipping?

  Originally published on gulfnews.com John Peacock explains how the law treats a practice made infamous by speculators Property flipping is a term widely used in the US to describe the process of buying property and reselling it at a higher price, usually after making minor alterations or refurbishments. Technically the first buyer or the…

Dubai Chamber & BSA workshop on important legal aspects of VAT

Transcript from gulfnews.com The Dubai Chamber of Commerce and Industry hosted a workshop today which helped familiarise businesses and professionals with essential, legal and practical aspects of the recently introduced value-added tax (VAT). The workshop, entitled “The Essentials of VAT”, was held at the Chamber’s headquarters in Deira and organized in cooperation with BSA Ahmad…