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…

New VAT Implications Impacting The Region – Key Measures To Consider For Insurers In The GCC

  It is crucial for businesses to start the preparation process early, as an understanding of the potential impact of VAT on the business will reduce friction in the ongoing process. VAT liabilities are generally self-assessed, with errors often leading to harsh penalties, time-consuming interactions with local tax authorities, or business disruptions. Raghad Hammad, Senior…

Saudi Arabia: GAZT Issue Draft VAT Law

Saudi Arabia has been the first GCC state to put its draft VAT law out for consultation. Cyrille Naffah and John Peacock of the Saudi and UAE offices of BSA Ahmad Bin Hezeem & Associates LLP explain the key provisions. Analysis It is now common knowledge, that all the GCC states have signed the GCC…