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I own a company in Ajman Free Zone and purchase goods from suppliers in Singapore, China, and Hong Kong. These goods are shipped directly to my customers in Bangladesh. I make payments to the vendors from my UAE bank account, and the sales proceeds are also received in the same account. I would like to know where I should account for the purchase amounts made outside the UAE in my financial records and which section or field in the UAE VAT Return should reflect these amounts.
Thanks for the info. Just to make sure, Sales that are not paid but invoiced on the said Taxable Period won't be included? Also, just to confirm, Sales (without VAT) invoiced on a different period but paid on the said taxable Period doesn't go with the Standard Supplies but rather go to Zero rated Supplies or Exempt Supplies? Hope I get an answer soon! Thanks
If someone buys property in uae for golden visa (and living for 183 days there) and earns 100+ crs through forex trading, does all income is tax free or it is illegal to doing so for indian government ??
If i open a private family office my trading company in dubai and my company do only trading..and i will operate from india..so there will be 20-25 employes..and my company will trade with my personal money no public or private client's money then if my company earns 200 cr per year..then will i have to pay 9 percent tax there ((2nd question)) If my company earned 200cr and o decided to donate 100 cr to my private ngo in india for people wellfare and wellbeing then even if i have yo pay 9% tax..then i will pay tax on 100cr or 200cr
Hi if I m into the business of software, data classification, innovation and artificial intelligence research and consultancy activities registered with a Freezone in UAE and earn revenue by leveraging on AI to provide risk assessment solutions to clients. Am i required to file ESR notification even if i do not have a registered patent, or IP for this product? and do not have a foreign entity presence?
Hi, thanks for the very valuable videos. Regarding the place of business, are you sure the filing of the emirates is not based on the customer location? Let us say, there is a company setup if Freezone A, its employees are located in Emirate C and work online, they deliver service in emirate B. What do you think should be the correct emirate for filing?
Hi, Here are the charges for the Tax Residency Certificate: - AED 50 for submission - AED 500 for tax registrants - AED 1,000 for non-tax registrant individuals - AED 1,750 for non-tax registrant legal entities
Thank you for your time and amazing explanation. Need your favour .If you can explain in detail what is taxable supply and taxable expenses and zero rated supply.Many thanks in advance
If the legal type on the license is LLC then please select Entity type as "Legal person -Incorporated" and Entity sub type as "UAE private Company (Incl.an. establishment)".
Hi sir, Thanks for the info, I just want to know hot to determine that companies in mainland and freezone will be considered as group of companies? Thank you so much
is it beneficial to form a corporate tax group? as the current memorandum only lists partners instead of a main company with 95%. because in a group, you dont get the benefit of $100000 threshold
if an individual in Dubai receives any income for professional services/consulting etc. from abroad or out of UAE, is it exempt ? any reporting is required as per VAT ?
If i have a foreign seller on my portal who makes direct supplies to the customers who purchase the foreign seller’s items from my website then who is liable to pay VAT? and how is this documented when filing for vat returns.
Could you help and advice me about my entity is a holding company, but in financial period, we don’t conduct any activities. So we can choose no relevant activity in ES Report in this period. Is it right or wrong? Tks a lot!
Hi. There was a carried forward adjustable VAT of AED 12000 when I submitted my previous quarter's VAT return. Now when I completed VAT 201 form this quarter, the previous carried forward adjustable VAT is not showing on my VAT return. What is the reason and how to resolve this issue?
Hello sir our company owners are foreign company registered in china 51% . How to fill in owner details as the legal person ask to filled only for local entities issuing authority . Please reply. Thanks
As a software company registered in Dubai, we invoice our UAE-based customers with 5% VAT. Additionally, we outsource software development work for our Dubai-based clients to India, receiving invoices from our Indian suppliers for these services. I want to know how to correctly account for these supplier invoices with the Federal Tax Authority (FTA) in the UAE.
Hi could please tell how do we claim the vat paid at the time of clearance of good from customs. Since its vat is already paid at the time of import and if we show vat as input and output, then it means we are claiming the input vat right. Could please explain on this
