On Apr 14th of 2025, Federal Tax Authority (FTA) have issued VAT public clarification (VATP041) on VAT implication on Swift Message replacing the previous VATP036. UAE Banks and exchange houses (“Financial Institutions” or “FI”)
Whether you are operating in Dubai, Ras-Al Khaimah, Abu Dhabi, or some places else in the Emirates
These updates also underscore the UAE’s commitment to fostering a robust, transparent, and future-ready tax environment that supports innovation while ensuring fiscal integrity.
The new Corporate Tax rules around Family Foundations strike a balance between regulatory oversight and wealth management flexibility.
In conclusion, with the evolution of the tax system in the UAE, more than ever, businesses need thorough corporate tax planning services to prosper.
Understanding the reverse charge mechanism and related documentation requirements is crucial for VAT-registered businesses importing services into the UAE.
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On 28th April 2025, Federal Tax Authority (FTA) have issued VAT public clarification (TAXP042) on value of supply under Barter Transactions