VAT re companies with JAFZA
#16
Re: VAT re companies with JAFZA
Just been in a meeting about this again (I guess as a Director of a FZE I should be concerned...). Clarity on treatment of the JAFZA entities does indeed await the issuance of the executive orders which have been issued in Saudi, for example, but not UAE. The clock is ticking and this question really is wide open. Meanwhile the Saudi orders contained some details we weren't expecting (and still not expecting for the UAE) about requirements for Arabic/hijri versions of all invoices. As one of our accountants pointed out, the UAE issued the similar orders on excise tax just 2 days before it was due to come into effect...
#17
Re: VAT re companies with JAFZA
Just been in a meeting about this again (I guess as a Director of a FZE I should be concerned...). Clarity on treatment of the JAFZA entities does indeed await the issuance of the executive orders which have been issued in Saudi, for example, but not UAE. The clock is ticking and this question really is wide open. Meanwhile the Saudi orders contained some details we weren't expecting (and still not expecting for the UAE) about requirements for Arabic/hijri versions of all invoices. As one of our accountants pointed out, the UAE issued the similar orders on excise tax just 2 days before it was due to come into effect...
If invoices have to be in arabic/hijri that is going to cause me a major issue Do you think the UAE will follow the same Executive Regulations format as Saudi?
#18
Re: VAT re companies with JAFZA
We have explicitly been told that the Arabic language requirement will NOT be part of the UAE regulations but of course they love to surprise us. The bigger question remains whether JAFZA will have nothing or everything to do for VAT and there seems no clarity or guidance about that at all... Meanwhile the deadline for company VAT registration is looming at end October!
#19
Re: VAT re companies with JAFZA
Our JAFZA entity is just part of our business so I don't sit there. Otherwise we could be lunch buddies
We have explicitly been told that the Arabic language requirement will NOT be part of the UAE regulations but of course they love to surprise us. The bigger question remains whether JAFZA will have nothing or everything to do for VAT and there seems no clarity or guidance about that at all... Meanwhile the deadline for company VAT registration is looming at end October!
We have explicitly been told that the Arabic language requirement will NOT be part of the UAE regulations but of course they love to surprise us. The bigger question remains whether JAFZA will have nothing or everything to do for VAT and there seems no clarity or guidance about that at all... Meanwhile the deadline for company VAT registration is looming at end October!
Businesses with an annual turnover exceeding AED 150 million should apply for registration by 31 October 2017
Businesses with an annual turnover exceeding AED 10 million should apply for registration by 30 November 2017
All other business entities with an annual turnover exceed the mandatory registration threshold (AED 375,000) should apply for registration by 4 December 2017
#20
Re: VAT re companies with JAFZA
so i received the below email from JAFZA
VAT ZONE (VS DESIGNATED ZONE)
Subject to the official release of Executive Regulations to VAT LAW in UAE, ANY AREA in UAE Free Zones which is not fenced and no restrictions on movement of goods and services, is VAT ZONE. VAT is applicable in VAT Zone.
JAFZA is likely to be declared as NO VAT Zone.
BUT Goods consumed within JAFZA and services used will be subject to VAT.
Your Business may take a Proactive action and Register for VAT with Federal Tax Authority.
You may like to take our help, support and guidance in getting your company VAT Registered.
clear as mud innit
VAT ZONE (VS DESIGNATED ZONE)
Subject to the official release of Executive Regulations to VAT LAW in UAE, ANY AREA in UAE Free Zones which is not fenced and no restrictions on movement of goods and services, is VAT ZONE. VAT is applicable in VAT Zone.
JAFZA is likely to be declared as NO VAT Zone.
BUT Goods consumed within JAFZA and services used will be subject to VAT.
Your Business may take a Proactive action and Register for VAT with Federal Tax Authority.
You may like to take our help, support and guidance in getting your company VAT Registered.
clear as mud innit
#21
Re: VAT re companies with JAFZA
so i received the below email from JAFZA
VAT ZONE (VS DESIGNATED ZONE)
Subject to the official release of Executive Regulations to VAT LAW in UAE, ANY AREA in UAE Free Zones which is not fenced and no restrictions on movement of goods and services, is VAT ZONE. VAT is applicable in VAT Zone.
JAFZA is likely to be declared as NO VAT Zone.
BUT Goods consumed within JAFZA and services used will be subject to VAT.
Your Business may take a Proactive action and Register for VAT with Federal Tax Authority.
You may like to take our help, support and guidance in getting your company VAT Registered.
clear as mud innit
VAT ZONE (VS DESIGNATED ZONE)
Subject to the official release of Executive Regulations to VAT LAW in UAE, ANY AREA in UAE Free Zones which is not fenced and no restrictions on movement of goods and services, is VAT ZONE. VAT is applicable in VAT Zone.
JAFZA is likely to be declared as NO VAT Zone.
BUT Goods consumed within JAFZA and services used will be subject to VAT.
Your Business may take a Proactive action and Register for VAT with Federal Tax Authority.
You may like to take our help, support and guidance in getting your company VAT Registered.
clear as mud innit
besides its free so what difference does it make anyway?
It can be done through that website, it is a 10 step process and the online guide is pretty easy to follow, they do ask for an awful lot of documentation scanned and uploaded but at the end of the day it needs to be done
#22
Re: VAT re companies with JAFZA
I think its pretty clear that you have to register for VAT
besides its free so what difference does it make anyway?
It can be done through that website, it is a 10 step process and the online guide is pretty easy to follow, they do ask for an awful lot of documentation scanned and uploaded but at the end of the day it needs to be done
besides its free so what difference does it make anyway?
It can be done through that website, it is a 10 step process and the online guide is pretty easy to follow, they do ask for an awful lot of documentation scanned and uploaded but at the end of the day it needs to be done
which website?
#25
Re: VAT re companies with JAFZA
#26
Re: VAT re companies with JAFZA
Go to
tax.gov.ae
Change the page to English ( top right corner area)
The first of the 5 scrolling pictures has a button to register
tax.gov.ae
Change the page to English ( top right corner area)
The first of the 5 scrolling pictures has a button to register
#28
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Joined: Sep 2009
Location: Abu Dhabi
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#30
Re: VAT re companies with JAFZA
too much traffic I bet