What Are The Mandatory Compliance Requirements In UAE?
Before entering into UAE market for starting a business, it is must to know the mandatory compliance requirements by the financial regulatory compliance services in UAE . This blog has curated a list of regulatory compliance to be followed in the UAE market. l Taxation in UAE The Federal Taxation Authority of UAE has introduced Value Added Tax as effective from 1 st Jan, 2018. It is a mandatory tax for the businesses whose annual taxable revenue is above AED 375,000 must register for Vat while those businesses whose annual taxable revenue is above AED 187,500 can opt for voluntary registration. VAT is applicable on sales, file periodic Vat returns with FTA and claim input Vat on expenses. Exemptions from the VAT include sectors of health care and education. l Registration and Licensing The mainland companies must be registered with the department of Economic Development and the offshore companies must be registe...