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  The Federal Tax Authority (FTA) has given the list of provisions across different sectors that will be liable to Value Added Tax (VAT) from the start of 2018. From all the sectors, there are few supplies in the sectors like real estate, financial services and transportation will be totally exempt from VAT.  VAT in the UAE : All You Need to Know - VAT in UAE was introduced on January 1st, 2018 and thereafter it has been followed and executed successfully. VAT in the UAE is considered to be as a new source of income which will be continued to be utilised to provide high-quality public services as well as it will help government move towards its vision of reducing dependence on oil and other hydrocarbons as a source of revenue. However , everything has been affected because of the COVID-19 pandemic. Because of this, numerous a ctions have been set up by the UAE government to give relief to businesses. Various measures have been taken by the government of UAE to impede the eff...

  VAT Registration Natural Person and VAT compliance : One of the most common questions most of the Natural Persons who owns multiple businesses have when it comes to registering with Federal Tax Authority (FTA) for a VAT Tax Registration Number (TRN) is whether to: Request for a separate TRN no. for each business owned by them or  Seek one TRN no. for all businesses owned by them FTA recently published a Clarification (VATP021) on the subject to help Natural Person comply with VAT law and regulations. Some of the important points to consider from the Clarification include: Who should register for VAT – Natural Person or his Sole Establishments separately: A Natural Person owning a number of sole establishments needs to  obtain only one VAT registration for all its sole establishments  and does not require separate VAT registrations for such establishments. FTA further noted, the Clarification does not apply to a One-Person Company  LLC or other similar legal e...