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- 18 Feb, 2019
Should I pay tax on the sale of company assets?
Legislation states that VAT is charged on taxable supplies made in the normal course of your business. Some argue that selling fixed assets, such as furniture, is outside the normal course of business and is not vatable. I don’t agree with this argument and advise charging the tax on the sale of all company assets. The purchase of assets used to generate taxable ...
More... - 09 Feb, 2019
IMF Managing Director commends UAE for strengthening its fiscal framework
The UAE is launching a fiscal risk management project with the IMF’s help and will produce its first fiscal stress test this year, according to Christine Lagarde, Managing Director and Chairwoman of the International Monetary Fund (IMF). Speaking at the main session of the Fourth Annual Arab Fiscal Forum organized by the IMF, Arab Monetary Fund, AMF, and the UAE ...
More... - 18 Feb, 2019
Over 2,000 local and international vendors registered for the VAT
The National Bureau for Revenue (NBR) today announced that over 2,000 local and international vendors have registered for the VAT. The NBR recognized the private sector’s efforts exerted towards ensuring the proper implementation of the VAT, which includes registering for the VAT prior to levying the standard 5% tax. Consumers are reminded that all registered v...
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