Articles

Federal Court finally defines and provides a test for the Tax Benefit Penalty
UAE
Federal Court finally defines and provides a test for the Tax Benefit Penalty
Mahmoud Abuwasel on 25 April 2021
Recently, in a dispute that Wasel Wasel was counsel on, the Federal Primary Court ruled providing a definition and test for the tax benefit penalty for the fir..
Recoverable Ratio and it's Nuances! Can 'Tax Value' based ratios provide a reasonable basis of apportionment?
UAE
Recoverable Ratio and it's Nuances! Can 'Tax Value' based ratios provide a reasonable basis of apportionment?
MRADUL GUPTA on 08 April 2021
Recoverable Ratio and its Nuances! Can Tax Value based ratios provide a reasonable basis of apportionment? Input VAT Recoverable Ratio (also commonly known a..
Bad Debt adjustment and FTA clarification
UAE
Bad Debt adjustment and FTA clarification
Dilip Jain on 29 March 2021
Adjustment on Account of Bad Debt Relief- Public clarification This article on the bad debt adjustment covers three sections: Relevant provisions o..
VAT treatment of the repair/refurbishment work provided by to the Customers including replacement of parts
VAT treatment of the repair/refurbishment work provided by to the Customers including replacement of parts
Dilip Jain on 26 March 2021
As per Article 2 of the VAT Decree Law,VAT shall be imposed on every taxable supply and deemed supply made by a taxable person and import of concerned goods int..
New Dubai Tax Dispute Resolution Committees now deciding on 2020 and 2021 objections
UAE
New Dubai Tax Dispute Resolution Committees now deciding on 2020 and 2021 objections
Mahmoud Abuwasel on 23 March 2021
Brief Since around September 2020, the tax dispute resolution committee of the Emirate of Dubai has been inoperable (under reformation). On 25 November 20..
UAE VAT on International Transport
UAE
UAE VAT on International Transport
CA Rajiv Hira on 18 March 2021
As per Article 33, VAT is applicable @ 0% in case of international transportation services for Passengers and Goods.The supply of international transportation S..
Introduction of staggered VAT registration by Oman Tax Authority
Introduction of staggered VAT registration by Oman Tax Authority
Girish Chand on 01 March 2021
The Oman tax authority recently introduced staggered VAT Registration by Oman Tax Authority. This step would be helpful to both the entities as well as to the ..
VAT on local transportation that forms or does not form part of the international transportation leg
VAT on local transportation that forms or does not form part of the international transportation leg
Editor on 20 February 2021
In a typical international logistics transaction, a consignor (person who wishes to get the goods transported) enters into a contract with a transporter for mov..
UAE VAT treatment of 'Director's fees' charged for services provided before introduction of VAT but fixed in the AGM & received post introduction of VAT
UAE
UAE VAT treatment of 'Director's fees' charged for services provided before introduction of VAT but fixed in the AGM & received post introduction of VAT
Editor on 18 February 2021
A peculiar situation was noticed when a Person (an individual) was highlighted a portion of the Directors fee he received in 2018 for the board meetings that he..
Implications of VAT in Oman for financial services
Oman
Implications of VAT in Oman for financial services
Bhawna Chopra on 30 January 2021
Omans VAT law states that, in accordance with Article 47, financial services are exempt. It has been specified that the regulations will include further cond..

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