FTA ameds law to avoid double VAT taxation on supply of goods in designated zones
New law has come into effect as of October 30,2021
Source: khaleejtimes.com
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Tax Conversations: Understanding VAT de-registration, an obligation or an option?
Tax Conversations: Understanding VAT de-registration, an obligation or an option? Pankaj S. Jain Photo: Wam file Failure to apply for de-registration within 20 business days attracts a penalty of Dh10,000 “Are you sure? We were never informed about it during our financial audits,” asked the CFO of a Jafza company, looking puzzled. “It is indeed mandatory to apply for VAT de-registration if your taxable supplies in the last 12-months is below Dh187,500,” I reaffirmed. “When was this requirement introduced, is it a new provision?” he asked curiously. “No, it has been the law since...
Source: khaleejtimes.com