Treatment of Mergers and Acquisitions, VAT in GCC Since VAT implemented on 1st January 2018 in GCC (UAE, Kuwait, Bahrain, Saudi Arabia, Oman, Qatar). There are many things and to be considered when you're making bigger, complex business decisions because it may involve VAT (Value Added Tax) implications that you might not know of for example VAT Treatment of Mergers and Acquisitions, VAT in GCC. Following is the VAT Treatment of Mergers and Acquisitions, VAT in GCC In case of the Mergers and Acquisitions, the business (VAT registered) has two main options: - Acquire the other business as running business Acquire other business as Business Assets In case of the acquisition as the running business all the claims and liabilities of the acquired business will be transfer to the Acquirer. If the business has a history of tax fraud or the tax penalties or late payments, the whole of the TAX history will be transferred to the acquirer but no VAT will be paid on the purchase ...

Avoiding Fines, Penalties while Managing Value Added Tax in United Arab Emirates Fines and Penalties Directory in UAE regarding Value Added Tax As the cost of doing business increases in Gulf Region (this article focuses on United Arab Emirates) it also comes with add-ons/ top-ups of fines and penalties. Why I termed the Fines and Penalties as Top-up or add-on because when you pay fine for some mistake, non-compliance, tax theft, tax embezzlement, tax omissions, and paying such fines/ penalties does not exempt the taxpayer/ taxable person from paying the actual due tax as per tax law in United Arab Emirates. There are 2 sections for this one is the Fees for Services provided by the Federal Tax Authority and Administrative Penalties for Violations of Tax Laws in the UAE . Federal Tax Authority’s Service Fees Cabinet Decision No.(39) of 2017 on Fees for Services Provided by the Federal Tax Authority outlines the fees to be collected for the services provided by the FTA...

VAT Readiness Survey Why taking a VAT Survey? There is lot going on in surroundings since the VAT is to be implemented and more will happen when it is finally implemented/ launched. A lot of confusions and questions in minds in professional circles, what to do, how to do, who to hire, how to manage, should we hire new resources who understand Value Added Tax? Years, Months, Days, Minutes, Seconds The initial VAT planning in GCC initiated in 2006 and VAT proposal was given by IMF in 2008, delayed, delayed and now final announcement for VAT Implementation is January 01, 2018. Wait is over and now its time to handle it strategically. Take on the VAT Survey here Take on the survey and know your strengths, your weaknesses, grey areas in VAT Implementation, Compliance, Planning.