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- 03 Sep, 2019
VAT registration call for BD 18,750–500,000 generating entities
The National Bureau for Revenue (NBR) highlighted that the VAT registration process is open for entities generating or expected to generate between BD 18,750 and BD 500,000 in annual vatable supplies. Concerned entities that wish to register early for VAT with the NBR will have the option of choosing the date to start implementing VAT until the end of the grace per...
More... - 06 Sep, 2019
VAT receipts set to boost Ras Al Khaimah surplus in 2019, says Fitch
Fitch Ratings has affirmed Ras Al Khaimah's long-term foreign-currency issuer default rating (IDR) at 'A' with a stable outlook, saying the emirate has a low and declining government debt burden and high GDP per capita. The ratings are also supported by the benefits of RAK's membership of the UAE, while the emirate's small size and weaknesses in the policy framewor...
More... - 12 Aug, 2019
What is the penalty for not submitting a tax return on time?
The Federal Tax Authority always gives businesses a minimum of 28 days after the end of the reporting quarter to prepare and file their VAT return. When the 28th of the following month falls on either a Friday or Saturday, the deadline moves to the next working day. Any VAT returns not filed by the given deadline should be submitted as soon as possible afterwards. The...
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