► reading news

Focus UAE

UAE VAT Freelancers

(Dubai, 24/01/2018) Honestly, this is a kind of Catch 22!

How comes?
We believe:
A crucial combination of

  • hasty issued and implemented legislation;
  • mostly no-knowledge in the "concerned departments"
  • about the day2day handling of VAT issues;
  • so or so no clear rules and regulation for freelancers in a work-visa-residency-focused immigration country;

It is a kind of crazy what we only noticed the last 3 weeks:

Example A:
"Sir, the charged VAT as per our invoices we have to pay to FTA in full - and the input tax amounts we get refunded from the suppliers who sent us invoices"

Example B:
Go in any restaurant, in 75% of all cases the display prices as per the menus are net prices. Then comes the bill / cheque:
Net price (as per menu) plus
Net price (as per menu) plus
Net price (as per menu) plus
Is SUBTOTAL
PLUS 5% VAT
(Sometimes we are short before making a proposal to FTA: Give us authority to make inspections. We charge nothing fixed, but will get 10% of the gained penalties. Within 3 months we would be Millionaires - not in AED, but in Dollars. With 3 hours work per day)

Example C:
And so on and so on.

https://www.thenational.ae/business/money/uae-freelancers-challenged-by-vat-as-companies-begin-refusing-to-work-with-unregistered-individuals-1.697582

Discussion

No comments yet.

Post a comment

 

INTELLIGENT CORPORATE SERVICES | TAX | LAW | COMPLIANCE BANKING | CUSTODIANS | REGISTERED AGENTS | CORPORATIONS

Welcome to the Web of MCI CLT GROUP - have a good Day!

Language

New articles

\n(The Hague, 17.06.2019) TMF Group, MCI CLT’s associated partners in Asian Offshore Association (AOA), published in the beginning of June its 2019 Global Business Complexity Inde...
\n\n\n\n\n(The Hague, 03.06.2019) Coming out of Q1/Q2 of 2019, the crypto currency space is seemingly reigniting the spark it had lost over the bear cycle that began in January 2018. Ar...
\n(Hong Kong, 2018-06-06) RAK Bank, RAK Bank, RAK Bank (although it could be nearly any other UAE Bank)!\n\n\n\nYou and your other competitors are well know - even over borders - for ar...
\n(Dubai, 25/09/2018) Dear Mr. Alabbar, this is for sure the wrong time to blow in the (wrong) nationalism trumpet.\n\n\n\n\n\n\n\nWhile the UAE government is intensively developing a huge ...
\n(Hanoi, 06.05.2019) From 14.-16. May 2019 it\'s time to increase the footprint in Indochina, especially in VietNam.\n\n\n\n\n\n\n\nWHY VIETNAM?\n\n\n\nVietNam is predicted to be the fastest gr...
\n(The Hague, 23.04.2019) The Dutch government has confirmed that a registry of ultimate beneficial owners of companies will enter into force in the Netherlands from 2020.\n\n\n\n\n\n\n\nTh...
\n(Dubai, 09/04/2019) In March 2019, the Parliament of the Commonwealth of Dominica enacted a series of new laws, forced upon it, as well as upon many other independent nations, by ...
\n(The Hague, 04.04.2019) Although from the headline seen \"just\" something related to the Danske Bank Scandal, this article is a brilliant summary of Deutsche Bank\'s US activities (...
\n(Hanoi, 28.01.2019) The World\'s Top 20 Most Dynamic Cities. CMI - City Momentum Index 2019 by JLL\n\n\n\n\n\n\n\nIt is really astonishing: 13 out of 20 Most Dynamic Cities are located in ...
\n(Hanoi, 13.01.2019) Talking about property markets . . . and the (cultural &\neconomic) differences:\n\n\n\nActually spending the last month of the Lunar Year in HaNoi, it is very ...

Facebook

Tags