Saudi Arabia Triples VAT Rate

Saudi Arabia have announced that VAT will rise from 5% to 15% from 1st July 2020. Reacting to the Saudi announcement, H.E. Younis Haji Al Khouri, under-secretary in the Finance Ministry, is quoted as saying that the UAE has no plans to raise the rate of VAT. A reading...
FTA Announcement on VAT Settlements

FTA Announcement on VAT Settlements

Good news on VAT! An hour ago, the Federal Tax Authority [FTA] announced that those reporting VAT for the month or quarter ending March 2020, will have until May 28th 2020 to settle that amount. Gulf Tax Accounting Group The authoritative advisor to UAE businesses on...
Managing Cash Flow During a Crisis

Managing Cash Flow During a Crisis

As the social and economic effects of the COVID-19 pandemic impact our businesses, both positive and negative, what is abundantly clear is that it’s no longer business as usual. Governments across the GCC have announced various stimulus packages to minimise the...
VAT Clarification: What You Should Know

VAT Clarification: What You Should Know

Our latest VAT briefing covers the published Federal Tax Authority (FTA) Public Clarification on Tax Invoice requirements, Medical Insurance and Non-Recoverable Input Tax – entertainment services. At Gulf Tax Accounting Group, we recognise that some of these...
Are you ready for a VAT Inspection?

Are you ready for a VAT Inspection?

If you are a VAT-registered business, you can expect a VAT inspection at some point in time, by officers from the UAE’s Federal Tax Authority (FTA). Do not panic. VAT inspections are routine checks conducted by the tax authority to review your VAT records and ensure...