NewsDigital Transformation & Cyber-attacks in the banking sector of the UAE The Central Bank of the UAE issued Circular No. 02/2020 implementing its Major Acquisitions Regulations (Regulations). The purpose of the Regulations is to regulate and supervise major acquisitions being undertaken by banks in the UAE with a view to ensure the soundness of UAE [...]

NewsThe 8 Most Commonly Asked Questions About VAT The UAE introduced VAT, or Value Added Tax, back in January 2018 at the standard rate of 5%. Since then, the country’s taxation outlook has changed significantly. The purpose of VAT is no different than any other tax: it was designed and implemented to raise revenue in [...]

NewsAPPLICATION OF TAXES IN OMAN The Secretariat General for Taxation (SGT) is responsible for implementing and regulating the relevant taxation laws in the Sultanate of Oman. Tax investigation/Audits and assessments are made by the Directorate General within the SGT. Both the SGT and the Directorate General departments are considered branches of the Ministry of Finance [...]

NewsExcise Tax in the UAE: Everything You Need to Know We know how you feel. Sometimes there are just too many taxes to keep track of and understand, but fortunately for you, here at Level.ae, we know and understand every tax type you could possibly think of—or can’t think of. This time around, we’re going [...]

NewsWhat are the Responsibilities of a Tax Agent in the UAE? What are the Responsibilities of a Tax Agent in the UAE? Doing taxes is probably not one of the most exciting activities we can think of when it comes to running our business. Our primary focus is constantly working on bettering our services and [...]

NewsFiling a return for VAT How to submit a VAT return in UAE? At the end of each tax period, VAT registered businesses or the ‘taxable persons’ must submit a VAT Return to the Federal Tax Authority When are businesses required to file VAT returns? Taxable businesses must file VAT returns with the FTA on [...]

NewsHow to Register for VAT in the UAE Applying for VAT Registration is a two-step process. At step 1, you need to create an e-Services account with the FTA and then you need to complete the VAT registration process. Creation of e-Service Account To create an e-service account you need to visit 'https://eservices.tax.gov.ae' and click [...]

NewsThese Were the Top Foreign Investments in NYC Commercial Real Estate in 2019 Foreign investors have always played a big part in the U.S. real estate market. Overseas companies, either on their own or in joint ventures with American affiliates, have closed some of the biggest commercial deals in history over the years. New York [...]

NewsPakistan - Chargeability of sales tax on life insurance services – notification The Sindh Revenue Board (SRB) implemented  on September 20 Notification No. SRB-3-4/17/2016. Through this, life insurance services, which were exempt from sales tax, will now be taxable  from 1 July 2016, as follows: – the rate of sales tax will be 8%; – [...]

NewsEuropean Union; Germany - ECJ Advocate General's opinion (VAT): Criminal proceedings against A, B (Case C-453/15) – Greenhouse gas emission allowance – details On 7 September 2016, Advocate General Wathelet of the Court of Justice of the European Union (ECJ) gave his opinion in the case of Criminal proceedings against A, B (Case C-453/15) (see [...]