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Basic steps to set up a business in Dubai

Business in Dubai

 

Basic steps to set up a business in Dubai

Are you thinking of starting your business in Dubai? Congratulations, you have chosen one of the best business ecosystems in the world for your new endeavor. Dubai is more than mere a city of architectural marvels– it is one of the most fertile grounds for new businesses. This is just one of the many things that make the commercial capital of UAE the best place to live and work. And as for starting up a business here, there’s no question that there’s a lot of potential to be tapped here in Dubai. So, if you are eager to set up your own enterprise, this article will help explain what you need to know and do to get your company registered and off the ground.

We have equipped this article with necessary links to guide you about the process and documentation required. Take a good look at the below before you kick off the actual process- the good news, though, is that on average, if you are ready with all required documents, it takes less than 10 days to start your company in Dubai. So, let’s start!

But before you start your legal formalities, you need to consider some elements required in the process:

  1. Know your business

    The success of a great business venture depends on sound knowledge of the local region, thorough research into the viability and demand for your product or service and a credible business plan that is likely to attract investment partners.

    Yes you have a great idea, but is there a demand for what you are offering? What does your competition look like and what puts your business offering a notch above the others?

     

  2. Select a Location that optimizes suitability, convenience, and costsAnother important step in planning a business startup in Dubai is to determine the most suitable location for the business. Setting up a profit-based enterprise in the city wouldn’t do you much good despite the growing economy if you’re customers or clients can’t reach you.You need to set up your business in an area that is most profitable for your business or most convenient to your business. A location in the right city can be selected for a shop or an office is most known for the type of product or service you are dealing with.

    If you are planning a Free Zone company then you must make the selection based upon the criteria of distance, costs and if it is suitable for your product, business model, and trade requirements.

    A tenancy contract must be concluded. If you’re aiming to start a small-scale enterprise, then the basic amenities, like telecommunication, storage, and space inside the establishment is the basic concern that must also be satisfied. Other services available in the commercial property can vary greatly.

  3. Financial viability

    Once you business is registered, the Ministry of Commerce will require owners to show proof of financial investment. If you are new to the region and have no track record, you must be prepared to find your own financial resources through your bank or by other means rather than relying on local support.

    Once you have established the validity of your concept, from a marketability stand point as well as financial viability, you can now look at the steps for turning your idea into a booming business.

    UAE Commercial Companies Law and Federal Law define seven basic categories of business organization that can be established in Dubai and the UAE. The requirements for minimum capital levels, shareholders and procedures for incorporation will vary with the type of business structure.

  4. Changes to Foreign Ownership and Visa Rules Announcement

    Anyone coming into the UAE as a professional or as an investor is typically granted a residence visa of two years, which is renewable. This has now been changed to a ten-year visa for investors and professionals in highly skilled fields such as engineering, medicine and science. Students will be given a special five-year visa, while those who consistently perform well and earn top grades will be granted a ten-year visa as well.

    Another very significant change is in the ownership of companies.Businesses within the UAE are divided into two main categories: mainland businesses and freezone businesses.

    At present, mainland businesses can be partially owned by expatriate entrepreneurs, but must have a UAE national as a majority shareholder in the company. Freezone companies, on the other hand, can have full foreign ownership and are subject to separate regulations depending on the freezone.

    With the new regulations, every business, whether mainland or freezone, will be able to have 100% foreign ownership without the need for an Emirati partner.

  5. Confirm your Visa eligibility and requirement

    For a business startup in the UAE, a visa permitting you and employees to live in UAE is essential to run your business.

    Visas are allowed for almost all businesses.

    However, their number varies according to a variety of criteria such as the size of the office, nature of the business, the category of the employee or the investor.

     

    Documents Required for LLC

    • Investor’s passport copy
    • Local Sponsor’s passport copy
    • Manager’s Passport copy
    • Registration application form from Economic Department
    • Trade name reservation
    • Initial approval from Economic Department Tenancy contract for the Office/warehouse or showroom attested by planning department and civil defence department of Dubai municipality along with location plan.
    • Memorandum of Association duly attested from public notary.

    Documents Required for Professional firms

    • Parent Business formation certificate duly attested from the UAE embassy in the home country of the parent organisation.
    • Board resolution for establishing a branch and to appoint the manager for the same
    • Attested copy(from UAE Embassy) of organisation memorandum / articles of association
    • Financial statements for the last two years
    • Local service agency agreement duly notarised in the UAE courts
    • Passport copy of the local service agent
    • Passport copy of the Manager
    • Company profile
    • NOC letter in favour of the Manager from the sponsor, if he is a resident of the UAE
    • Company Registration in Dubai, UAE

      Businesses of any category operating in the UAE must have a license for registering into the business network of the country. Company registration in UAE requires a trade license and permission from different law enforcement agencies and the state government for setting up your business. Company registration in Dubai for businesses like financial services, food, health services, printing and publishing requires a lot more clearance than any other business.

      Company registration in UAE falls into following three categories depending on the nature of your business:

      1. Company Registration in Dubai, UAECommercial License – This license is issued to those companies who are just looking for trading business activities.
      2. Industrial License – This license is for those companies who will engage in manufacturing or other industrial activities.
      3. Professional License – This license is issued specifically for different service providers, artisans, craftsmen and other professionals.

      For the company registration in Dubai, the Department of Economic Development (DED) of UAE issues the required licenses.

  6. Get a License Notification

    There are many complex requirements associated with the issuing of the business license. The company registration in Dubai for financial services must need the approval of the Central Bank of UAE. The license for the manufacturing companies requires approval from Industry ministry of UAE. Similarly, the medical service providers require approval from the Health Ministry of UAE .Once the necessary documents are obtained and formalized, the initial application process will begin at the relevant issuing authority along with registering the company’s formal name. This crucial stage paves the way for clarification of the final fees and the final acceptance of the company’s proposed activities.

  7.  Hire a registration agent to take you through the process of business startup

    Hiring a business advisory firm to register your business startup may be your best option.

    These consultants will not only hold your hand right through the setup process but will also actually register the company for you. And will help with opening your bank account, arrange for an auditor, do your renewals and offer you nominee services.

    You may find their expertise in dealing with the local government bureaucracy and with Free Zone Authorities to be of great help in planning and itemize your business startup costs.

    In most cases, these firms offer a team of experts to plan out your company registration from scratch — this includes the strategies you need to follow in order to smoothly set up your business, itemizing potential costs, offering licensing and location options, coming up with solutions for potential business hurdles, and so on.

    Also, they will take care of all the necessary requirements to help you to have your business registered legally with minimal problems on your end.

     

    If you are looking for trading in any of these industries in Dubai or any other, then we can give you the best advice for your company registration in UAE.                                                                                              For more details visit :http://www.namaccountants.com/                                                                        or                                                                                               Contact us : 971-558876440

VAT Voluntary Disclosure Form 211

The Federal Tax Authority (FTA) has introduced a form 211 – VAT voluntary disclosure form. It will help the taxable persons to rectify the errors they committed in their UAE VAT Form 201which is already filed. It is an option given by the FTA for the tax periods to voluntarily disclose the errors one has committed.

This disclosure requirement has nothing to do with your VAT return or voluntary registration. The voluntary disclosure referred to is only to be used in the  circumstances if you later discover an error in a VAT return previously submitted.

What is meant by Voluntary Disclosure under UAE VAT Law?

Every Taxable person has an option to rectify the contents of the VAT Return (Form 201) which were already filed. By using the voluntary disclosure option, the taxable person can rectify the amount of tax disclosed by him previously. One can use the form 211 – VAT voluntary disclosure to inform the authority and rectify the same voluntarily before the authority finds it before a tax audit or through an assessment.

 

 

How to use the VAT Voluntary Disclosure Form 211?

Once the taxable person identifies the error or omission he made in his previous VAT return form 201, he can log in to the official portal of FTA by using their user name and password and access the VAT voluntary disclosure form 211 to rectify.

As shown in the above screen shot, the taxable person can select the respective periods wherein a voluntary disclosure is required by clicking the button submit form 211 to rectify the mistakes.

When can one use VAT Voluntary Disclosure Form 211?

If a taxable person makes an error or omission or a wrong treatment of tax by which the output tax payable or input tax recoverable is more than AED 10,000/- for a particular period then, he must use the VAT Voluntary Disclosure form 211 to inform the authority. The form will show the original figures disclosed under “as reported” and will give an option to edit the amount under separate box named “as current”. Further the reason for such discrepancy also should be disclosed.

Once the newly arrived figures are written in the respective boxes under “as current”, the total tax liability under box number 14 also gets changed. This will be the actual tax liability to be paid to the authority. Further, the taxable person should also upload the supporting documents for such voluntary disclosure. It includes a letter describing the background of the facts and a detailed description of the errors disclosed, the reason for voluntary disclosure as well as the impact on the relevant boxes of the tax return.

Penalty while using the VAT Voluntary Disclosure Form 211?

There are two types of penalties.

  1. Fixed penalty
  2. Percentage based penalty

Fixed penalty – if the tax payer uses the VAT Voluntary Disclosure form 211 for the first time, AED 3,000/- shall be levied. For every repetition in using the VAT Voluntary Disclosure form 211 AED 5,000/- shall be charged.

Percentage based penalty – if the tax payer discloses less than the actual tax liability in the return and subsequently uses Form 211 VAT Voluntary Disclosure form, the percentage-based penalty will be as follows:

  • If the taxable person makes a voluntary disclosure before the authority notifies (by way of tax audit or tax assessment), 5% of the tax amount which was not disclosed earlier will be the penalty.
  • If the authority notifies the taxable person for a tax audit and during the tax audit if he makes a voluntary disclosure by using VAT Voluntary Disclosure Form 211, he will be liable to pay 50% of the tax amount.
  • If the taxable person makes a voluntary disclosure after the authority notifies for a tax audit but before starting the tax audit, he has to pay 30% of the tax amount as a penalty.

What if the difference in tax amount identified is less than AED 10,000/-?         

If a taxable person makes an error or omission or a wrong treatment of tax by which the output tax payable or input tax recoverable is less than AED 10,000/- for a particular tax period, then he need not use the VAT Voluntary Disclosure form 211 to inform the authority. He can rectify such errors in the subsequent VAT Return without a separate disclosure.

For Example:

XYZ LLC is a company registered in Dubai and the tax paid is 1st January 2018 to 31st March 2018 and quarterly thereafter. For the first quarter, the total sale was AED 10,000,000/-  out of which 3,000,000/- was an export and the balance 7,000,000/- was standard rated supply. The total output VAT is AED 350,000/-. Recoverable input tax under standard rated expenses (5,000,000/-) was AED 250,000/-. Hence, net tax payable is AED 100,000/-.

Suppose, XYZ  LLC wrongly filed their VAT Return Form 201 – AED 6,000,000/-  as 5% taxable supply and AED 4,000,000/-  as export. In this case it will be showing AED 50,000/- as net tax payable to the authority.

What will be the penalty under voluntary disclosure scheme?

  1. If voluntary disclosure is filed for the first time without any notification from the FTA then fixed penalty is AED 3,000/- and percentage-based penalty will be AED 2,500/- (5% of AED 50,000/-)
  2. If the authority already sent a notification for a tax audit and if XYZ LLC discloses under VAT Voluntary Disclosure Form 211 before the authority starts a tax audit, then the fixed penalty is AED 3,000/- and percentage-based penalty will be AED 15,000/- (30% of AED 50,000/-).
  3. If the authority already started a tax audit and XYZ LLC discloses under the VAT Voluntary Disclosure Form 211 during the tax audit, then the fixed penalty is AED 3,000/- and percentage-based penalty will be AED 25,000/- (50% of AED 50,000/-)

Every taxable person should file their VAT Return with optimum precision within the time frame specified by the UAE VAT Law which is within 28 days from the end of each tax period. A taxable person should ensure that the VAT Return Filing is processed in a correct manner, so as to limit the frequency of using the VAT Voluntary Disclosure Form 211 to avoid penalties.

I strongly suggest to get your VAT Return filed by licensed tax consultants to avoid penalties and fines from FTA.

Nam Accountants can help you to deal on this matter. For more details and information call us now  : 971-558876440

or

Visit us : http://www.namaccountants.com/vat-consultants-in-uae.html

 

Accounting for business

 

It's important to step back and review what factors make up your sales

Accounting is indeed one of the most important parts of a business as it functions as a lifeblood of a company. A business cannot simply operate without accounting in it. Although some aspects are all equally important for the success of your company, accounting can make or break you. This is why there are a lot of accounting services that are available in the country.

Even when asked, accounting firms in Dubai will tell you that knowing the numbers and dealing with them properly can help you to manage your business better. It is better than you know too much than to know nothing at all.

 

  • WHAT IS ACCOUNTING FOR A BUSINESS?

In very general terms, accounting is a documentation of all economic operations through records management. This activity has three main areas:

  1. Bookkeeping process. Management of financial statements in accordance with established procedure.
  2. Tax records. Document of business deals with a view to building tax base and calculation, reporting to fiscal bodies.
  3. Management accounting. Analysis of recorded data enables the entrepreneur to evaluate the effectiveness of his activity, to make sound economic decisions, to plan and optimize work processes, to monitor progress made and results achieved. Analysis of recorded data enables the entrepreneur to evaluate the effectiveness of his activity, to make sound economic decisions, to plan and optimize work processes, to monitor progress made and results achieved.

As can be seen, accounting is not an empty word, but a necessary tool for a successful businessman.

  • Kind of Records to keep
  1. You should know what type of records to keep.
    1. Legal documents. Business licenses and permits, sales tax licenses, DBA certificates and any other documents that have legal significance for company’s activity should be stored separately and be kept accurate and current. You need to know exactly where one or another document is, both online and offline.

         b .Supporting financial documents. The source documents are of a great value for a business because all accounting operations are based on them. Supporting financial documents include all contracts with counterparts, invoices, receipts, payrolls, cash register tapes and a number of other documents related to the finance

  • Accounting software makes it easier for you to track your business’s financial health and monitor the money moving in and out of your accounts. It can create invoices, track expenses and generate a variety of reports that help you analyze your business’s performance from various angles. Many applications can also help you track your bills and manage your inventory or projects.Choosing accounting software can be challenging. Each program includes a different set of features, and most offer multiple pricing plans to choose from, which also vary by feature, number of users, or other factors. Here are three items to keep in mind when selecting accounting software for your business:
    1. Costs. Would you prefer inexpensive, basic accounting software or an application that costs more but includes extra features?
    2. Usability. How many users need to access the software? Do you prefer a cloud-based system you can access anywhere or desktop software? Do you need it to have a mobile app?
    3. Features. What do you need the accounting software program to do? Do you need both accounts receivable and accounts payable tools? Which reports do you need it to generate? Do you need it to track inventory? Do you need it to include ancillary services, like time tracking, project management and payroll .

  •  Hire a good accountant: An accountant will work in conjunction with your attorney and be instrumental in determining the best form of ownership. He can also help you establish bookkeeping and other record keeping procedures that can keep you on track for years. Most important, a good accountant will help with tax planning. “You will also want an accountant who understands the state laws, since every state has its own little intricacies, such as sales tax issues,” .
  • Hire a good business attorney: You don’t necessarily need to have an attorney on a retainer, but you’ll want to hire an attorney experienced with new businesses to help you get started. Your attorney can advise you about such things as drafting contracts, reviewing your lease and determining the right business structure. “A good attorney will know what it is that you are trying to do and help you structure your business in a way that will be beneficial to you,”                                                                                                                                                                   While many questions remain unanswered for now, it is likely that more information will become available in the near future. If you are concerned or have any questions as to how the proposed changes will affect your business in the UAE, please do not hesitate to contact us.visit:                                                                                                                                         http://www.namaccountants.com/                                                                                      or                                                                                                                                       contact  : +971-558876440

VAT Return Filing in the UAE

vat in uae

VAT return filing is that the official tax document to be submitted to the Federal Tax Authority before the due date. VAT return filing needs to be done by the taxable Person at regular intervals depends upon his tax amount. The VAT return should show the details of any output tax due and input tax recoverable at the side of different information as required by the format.

What has to be taken care while filing your VAT return?

While doing the VAT return filing method, details of the taxable Person are going to be pre-populated. Further, details like current VAT return amount, Tax year finish, VAT/Tax period reference range and VAT return submission due date also will be generated automatically.

The following should be taken care of VAT Return filing,

  • All mandatory fields should be completed
  • All amounts should be in AED
  • Use “0” if there are no amounts to be declared.
  • All amounts should be added to the nearest fills

The VAT Return Filing requires every registrant to provide details of taxable supplies.

Details to be summarized under Taxable Supplies include the following;

  1. Advances received.
  2. Supply of goods and services
  3. Goods sold under Profit Margin Scheme
  4. Credit notes issued
  5. Deposits received other than those which are refundable
  6. Sale of Commercial Property

The value of supplies of products and services under Reverse Charge Mechanism is to be declared separately. However, a worth of goods imported into UAE is auto-populated to the extent it had been declared under the taxable Person’s customs registration number.

Adjustments will be created to the of imported goods that are auto-populated in case of omission or mistake in the value when compared with the amounts reported within the customs and import declaration. Further, any import of products that aren’t subject to the standard rate of VAT within the UAE at 5-hitter can even be adjusted as by default all the imports are assumed to be subject to 5 VAT rate.

For assistance please contact +971-558876440 or visit:www.namaccountants.com

Auditing firm in UAE

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JLT is arguably the fastest growing free zone of UAE. Its commercial location makes it an ideal place for new investors in the region. On the other hand, Dubai Multi Commodity Centre or just DMCC is also growing at a fast.

Auditing in all the registered firms in the JLT, Jebel Ali free zone, Dubai silicon oasis and DMCC region is made compulsory by the UAE state government. The audit firms in Dubai Silicon oasis, JLT, Jebel Ali Free Zone and other auditing firms in Dubai, UAE submit audited financial statements annually for Auditing in Dubai airport free zones. Our auditors in Dubai make sure that the annual financial statements are submitted three months prior to the end of the financial year.

 

 Auditing Firms in JLT, DMCC DubaiWe are proud to announce that we are one of the top most in

  • Audit Firm in Dubai
  • Auditors in Dubai, UAE
  • Audit firms in DMCC Dubai
  • Audit Firms in Jebel Ali Free Zone
  • Audit firm in Dubai silicon oasis
  • Audit firms in Dubai airport free zones

with excellent repute in the eyes of our clients. This is all because of our professional auditors’ panel who strive extremely hard to achieve and maintain all your auditing objectives and tasks.

List of Holidays of 2018 in UAE

The UAE government last month launched the Hijri calendar 1439, shortly after the Islamic New Year began.

Here’s a detailed list of all holidays, including religious ones, for the new Hijri year, according to the Islamic Affairs and Charitable Activities Department of the Government of Dubai.

These holidays are subject to moon sighting.

Name of the holiday Date in Hijri calendar Date in Gregorian calendar Holiday duration
Hijri New Year 1 Muharram 1439 Thursday 21 September 2017 1
Ashoora Day 10 Muharram 1439 Saturday 30 September 2017 0
Flag Day 14 Safar 1439 Friday 3 November 2017 0
Commemoration Day 11 Rabi Al-Awwal 1439 Thursday 30 November 2017 1
Prophet’s Birthday 12 Rabi Al-Awwal 1439 Friday 1 December 2017 1
National Day 13 Rabi Al-Awwal 1439 Saturday 2 December 2017 2
Greg. New Year 13 Rabi Al-Aakhir 1439 Monday 1 January 2018 1
Israa Wal Miraj night 27 Rajab 1439 Saturday 14 April 2018 1
Half of shaban month 15 Sha’ban 1439 Tuesday 1 May 2018 0
Beginning of Ramadan 1 Ramadan 1439 Thursday 17 May 2018 0
Bader Al Kubra 17 Ramadan 1439 Saturday 2 June 2018 0
Fateh Makkah 20 Ramadan 1439 Tuesday 5 June 2018 0
Lailat Al Qader 27 Ramadan 1439 Tuesday 12 June 2018 0
29th Ramadan 29 Ramadan 1439 Thursday 14 June 2018 1
Eid Al Fitr 1 Shawwal 1439 Friday 15 June 2018 3
Arafat (Haj) day 9 Thul-Hijjah 1439 Tuesday 21 August 2018 1
Eid Al Adha 10 Thul-Hijjah 1439 Wednesday 22 August 2018 3

 

Penalties and fines for tax violators|Tax agents in UAE|

The UAE Council of Ministers on Monday has announced the penalties for violations of the country’s tax law.

Since UAE will be implementing the VAT starting from 1st January 2017, our best and experienced value added tax consultant in Dubai will be able to provide the best advice for one.
The Cabinet decision states that a fine must be no less than Dh500 and no more than triple the value of the tax on the transaction in question.
In the case of a business failing to keep the required records and other information specified in the tax laws, the business will be fined Dh10,000 the first time and Dh50,000 for a repeat offence.
Businesses were required to have a full accounting of their stock and to begin keeping records as of October 1, 2017, upon the introduction of the UAE’s Excise Tax. We will offer your business with the best team of VAT advisory in Dubai, to help your business with a range of VAT services and advices.
Since UAE will be implementing the VAT starting from 1st January 2017, our best and experienced value added tax consultant in Dubai will be able to provide the best advice for one. our VAT consultant in UAE will be able to help your company out with the procedure of the registration.

Separately, a failure by the businesses to display prices inclusive of excise tax will incur a Dh15,000 fine.
As for VAT, the new decision states that a failure to comply with conditions and procedures related to keeping the taxable goods in a designated zone or moving them to another designated zone will result in a fine of Dh50,000 fine, or 50 per cent of the tax, whichever is higher, paid on the goods that resulted in the violation.
The Cabinet also decided on the fees for services provided by the Federal Tax Authority (FTA).
This decision outlined what fees would be collected for the services provided by the FTA to its clients.
Tax registration services and the issuance of an electronic tax registration certificate will be free of charge, the decision said. An attested paper registration certificate, however, will carry a Dh500 fee, whilst registration — and renewal — fees for tax agents were set at Dh3,000 for three years.

Our experienced VAT tax consultant in Dubai is licensed and experienced and will make sure that you get the best benefits when the tax is implemented

Federal Decree-Law No. 8 of 2017

VAT consultants in dubai
President His Highness Shaikh Khalifa Bin Zayed Al Nahyan has issued the Federal Decree-Law No. 8 of 2017 for Value-Added Tax, with one of the lowest rates in the world.

A preliminary step to implementing VAT in the UAE as of January 2018, the 5 per cent tax is set to be imposed on the import and supply of goods and services at each stage of production and distribution, including what is deemed to be a supply.

“The Federal Decree-Law issued by H.H. Shaikh Khalifa bin Zayed is the bedrock of the UAE’s planned tax system, which was designed to meet the most stringent of standards and best practices,” said Shaikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai, UAE Minister of Finance and Chairman of the Federal Tax Authority.

“The Value-Added Tax, which is set to be implemented across all GCC countries over the next two years, will bring a new revenue stream for the national economy and GDP.

“The new tax system will provide extra support for the Government to implementation of VAT

The newly implemented  Value Added Tax  in the GCC depending on the readiness of each member State between 1 January 2018 and 1 January 2019 pertaining to the Common VAT Agreement of the States of the GCC, will have positive results on the economy, far exceeding its 5 per cent rate, given that revenues will be redistributed to development projects that benefit society at large and accelerate progress until the UAE reaches the top of global rankings across all sectors.”

The Decree-Law provides that all supplies of goods and services are subject to VAT at a standard rate of 5 per cent with the exception of specific supplies subject to the zero rate and what is exempted as specified in the Decree-law.

Namassociates provide best  VAT consultancy services with extensive experience, resources, and exposure to tax regimes of many countries to address your needs of adhering to local regulations as well as being profitable.

Our namassociates team takes care of VAT, Excise Tax, international taxation, indirect taxes, guiding about local tax laws, and compliance with tax and VAT regulations in different countries.

We offer following services for hassle free management of your tax issues:

New VAT Guidelines

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The final VAT regulations announced last month have helped clear the air for investors and companies in the UAE. Set to be introduced across the Gulf countries, VAT has been set at 5 per cent on a host of products, but certain segments have been exempted, such as basic consumer goods, healthcare and education, etc.

The new law also assigns responsibilities to eligible resident taxable persons including non-residents and investors and their agents as well as nominated representatives who will have to register and ensure specified compliance.

Here are five things you need to know about the revised tax law:

1. All taxable persons are required to register under the respective country’s law i.e., VAT and excise, and apply for a Tax Registration Number (TRN) within a stipulated time frame once the new laws are published in UAE, which is expected soon.

2. There has to be the registration and appointment of tax agents and/or a legal representative, who will be responsible for all compliances and for tax payable on behalf of their principals.

3. There are strict penalties for non-compliance including prison terms for responsible and key management personnel/owners and also fines up to five times the tax due and payable by each taxable person and or entity who is in default including any wilful default of any tax provisions.

4. Procedures and timelines for appeals and its disposal have been clearly defined which is likely to be within 20 business days from the date of the taxable or appeal event or liability becoming due for payment.

5. Other key provisions include tax audits, inspections, appeals and their redressals etc.

UAE Visa from your Own Home

UAE Foreign Affairs Started online application of Visa

UAE Visa from your Own Home, complete applications related to nationality, and residence, without having to visit typing offices or customer service centres.

The Ministry of the Interior on Tuesday launched “E-channels”, a new system of smart services that lets nationals and residents apply for entry permits and residency visas within 10 minutes

Under the new system, people don’t need to physically visit different visa centres in the country. Instead, they can register at https://echannels.moi.gov.ae and select the services required. Individuals will need an email id and password to log into the system, said Brigadier Mansour Ahmad Al Daheri, director-general of residency and naturalisation department of Abu Dhabi.

In partnership with Tahaluf Al Emarat Technical Solutions, the ministry has worked on the development of the e-services system that allows typing centres, companies and individuals (citizens, residents and Gulf Cooperation Council nationals) to apply for residency and naturalisation services with ease.

Using “E-channels”, GCC citizens and residents can apply for visas, follow up on applications and print visas.

Companies can submit applications without having to visit General Directorate of Residency and Foreigners Affairs centres.

Under the smart system, Emiratis can apply to sponsor individuals, residents can apply for new visas, or renew or cancel and GCC nationals can apply to sponsor individuals while GCC residents can apply for new visa permit. Visitors can apply for new visa permit.

Brig Al Daheri said that the new system aims to reduce the rush at government centres by 80 per cent by next year.