October 8, 2018

UAE VAT Update: Insurance

Due to the ambiguities related to taxability of different types of insurances and the eligible VAT input credits, FTA has issued clarifications through insurance VAT guide. Some of the Key takeaways from the Insurance guide are covered in this update. S. No. Types of insurance Liability of charges 1. General insurance Motor insurance Real estate insurance Fire and theft Contents insurance Premium – standard-rated if the recipient is resident in the UAE Zero-rated if the […]
September 21, 2018

MCA Update: LLP (Second) Amendment Rules, 2018

This update highlights the recent amendment in specific to Limited Liability Partnership firms LLP (Second) Amendment Rules, 2018 : Applicable Law: section 79 (1) & 79(2) of the limited Liability Partnership Act 2008 (6″of 2009) Effective From: October 02, 2018 New form RUN-LLP: Reserve Unique Name-Limited Liability Partnership (RUN-LLP). Form 1 has been replaced with RUN-LLP, where application for reserving the name of LLP has to be made. New form FiLLip: LLP Form 2 which […]
September 18, 2018

Outcome UAE Journal – Sep 2018 E-01

Our this edition will focus on VAT updates, ADAA Resolution 1 basics, introduction to our UAE faces and our service offerings in Dubai
September 15, 2018

GST Updates: September 2018

This is an update covering the recent amendments in GST law consequent to notification issued during the month of September 2018. Following areas are covered: GST Returns filing timelines Filing of Annual return and Audit Report Implementation of TDS and TCS provision under GST. Filing & timelines of ITC-04. Clarifications on refund related issues. Documentary requirements for claiming ITC. Nature of Compliance Type of Taxpayers Period Frequency Due Date GSTR1, GSTR 3B and tax payment Newly […]
September 13, 2018

Refund of Tax for International Travelers to UAE

Good News for tourists travelling to UAE…  Get refund on taxes (VAT) paid on your spends
September 12, 2018

Attention Unlisted Public Companies!

MANDATORY DEMAT OF SECURITIES FOR UNLISTED PUBLIC COMPANIES FROM 01/10/2018 Ministry of Corporate Affairs, Government of India wide notification dated 10th September, 2018 amended the Companies (Prospectus and Allotment of Securities) Rules, 2014. These rules may be called the Companies (Prospectus and Allotment of Securities) Third Amendment Rules, 2018. They shall come into force on the 2nd day of October, 2018. All Unlisted public Companies need to: Issue all Securities in demat form; Facilitate de-materialization […]
September 10, 2018

MCA Update Sep 2018: Abridged Director Report for Small Companies

MCA has recently amended the Companies (Accounts) Rules, 2014, these rules called the Companies (Accounts) Amendment Rules, 2018. As per Companies amendment Act, 2017 it was proposed that MCA shall issue Abridge form of Directors Report for One Person Company and Small Company. MCA has come up with new rule 8A on 31st July, 2018 for “abridge form of Directors report disclosure” by prescribing separate bunch of disclosures for Small Company and One-Person Company. The […]
June 5, 2018

Impact of VAT on Trading by Gaurav Verma