Tax authority
defers date to file returns
The FTA has provided the first VAT return period from January 1 to May
31 and subsequently on a quarterly basis. This means the first return
will need to be filed on or before June 28 and later returns from June
1 to August 31, September 1 to November 30, December 1 to February
28-29.
How to know when to File Returns?
Log onto the FTA's website and check the tax period under your
profile. Some businesses have been given one month and others have
been given five months. Now, firms can file their first tax returns
after four or five months in June as per the new timelines appearing
on the FTA's dashboard after log-in by a member company.
Here's a rundown of what you need to know
about VAT - from what products and services are subject to it to
knowing whether companies are trying to pull a fast one on you
If and only if
Businesses are not allowed to charge VAT unless they are registered
with the Federal Tax Authority and have a tax registration number (TRN)
Full details
Details of VAT should be displayed on the tax invoice issued to
customers, which should include the total amount and tax being
charged, plus the TRN
Loose change
In cases exact change cannot be given, rounding off can be applied;
for example, 13 fils can be rounded off to 25 fils, 39 fils to 50 fils
and 69 fils to 75 fils
Enjoy for a little more
Leisure and entertainment services - including theme parks, cinema
tickets, concerts and restaurants - are subject to VAT
Save on Salik by.
.buying cards online - it won't cost you anything extra. Salik cards
are subject to VAT when bought in stores
Health benefits
Consultancy and medicines are zero-rated for preventive- and
treatment-related services
Learn it
VAT will directly hit universities, unless it is 50% funded by a
government grant. The only exception is the rent in student
accommodation
Thanks, jewellers
VAT is implemented on investment gold, silver and platinum jewellery
with 99% purity. For consumers, the tax is applicable on the entire
piece rather than on making charges. However, some companies are happy
to absorb the VAT cost, mostly on diamonds
Your call
There are no extra charges on recharge cards. For data packages, any
plan taken in 2017 and spilling over into 2018 will be subject to VAT
Got beef?
The public is encouraged to report any complaint via the Ministry of
Economy's call centre on 600522225, which works from 7am to 10:30pm.
Education
In the education sector, there are five items that have zero VAT.
These include (1) nursery education and pre-school education, (2)
school education, (3) higher education provided by institutions owned
by the government or getting more than 50 per of their funding from
government, (4) printed and digital reading material provided by the
education institution and (5) school trips related to curriculum.
School transport is VAT exempt, according to the authority.
A 5-per cent VAT applies to school uniforms, electronic equipment,
food and beverages on campus, school trips for recreation and
extra-curricular activities.
The UAE has adopted a 5 per cent VAT which kicked in on January 1,
2018.
Healthcare
In the healthcare sector, services that have zero VAT include
preventive healthcare and treatment (provided by a healthcare
institution, physician, nurse, dentist or pharmacy licensed by the
Ministry of Health and Prevention, MOHAP), or the competent
authority).
Also VAT-exempt are medications registered or approved by the MOHAP.
Medical equipment registered or approved by the ministry.
A 5 per cent VAT applies to medications that are not registered or
approved by the MOHAP and other healthcare services that are not for
treatment and are not preventive.
Important Information for Consumers Regarding VAT
--------------------------------------------------------------------------------------------------------
20 Free Zone areas in UAE are exempt from VAT
Abu Dhabi: Free Trade Zone of Khalifa Port; Abu Dhabi Airport
Free Zone; and Khalifa Industrial Zone
Dubai: Jebel Ali Free Zone (North-South); Dubai Cars and
Automotive Zone (Ducamz); Dubai Textile City; Free Zone Area in Al
Quoz; Free Zone Area in Al Qusais; Dubai Aviation City; and Dubai
Airport Free Zone
Sharjah: Hamriyah Free Zone; Sharjah Airport International Free
Zone
Ajman: Ajman Free Zone
Umm Al Quwain: Umm Al Quwain Free Trade Zone in Ahmed Bin
Rashid Port; Umm Al Quwain Free Trade Zone on Sheikh Monhammed Bin
Zayed Road
Ras Al Khaimah: RAK Free Trade Zone; RAK Maritime City Free
Zone; RAK Airport Free Zone
Fujairah: Fujairah Free Zone; Fujairah Oil Industry Zone (FOIZ)
--------------------------------------------------------------------------------------------------------
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