FrontAccounting forum — Need to Know UAE FTA Requirements

Re: Need to Know UAE FTA Requirements

null@example.com (kvvaradha) — Tue, 01 Feb 2022 01:01:05 +0000

Currently these kind of taxation is out of scope. But you can make some tax function customization to make it work for you.

@joe consider checking the fact. If it's really useful for others, will take it to update. Try a poll for this taxation and get user opinion and we will proceed it.

Re: Need to Know UAE FTA Requirements

null@example.com (rafat) — Mon, 31 Jan 2022 13:56:02 +0000

Corporate tax is coming to the UAE

https://www.reuters.com/markets/rates-bonds/uae-introduce-federal-corporate-tax-business-profits-june-1-2023-2022-01-31/

Basically its 9% on business profits for companies making more than $102K of profits. I wonder if FA can be tweaked to handle this, or this type of Tax is out of FA scope.

Any Ideas?

Re: Need to Know UAE FTA Requirements

null@example.com (boxygen) — Thu, 18 Feb 2021 12:32:35 +0000

Thanks a lot for this detailed information.

Re: Need to Know UAE FTA Requirements

null@example.com (rafat) — Thu, 18 Feb 2021 08:37:43 +0000

@boxygen
Like all government tax authorities requirements are published in:

https://www.tax.gov.ae/en/tax-support/tax-accounting-software-vendors/how-to-become-a-software-vendor

It has detailed requirements of what is needed to become an approved vendor. As of today its not an absolute requirement to use SOFTWARE to file in VAT. This will become mandatory in the near future.

https://www.tax.gov.ae/en/tax-support/tax-accounting-software-vendors/accredited-accounting-software-vendors

Will list some of the approved vendors.

FA as it stands today needs some modifications to meet the FTA (Federal Tax Authority) requirements.

Need to Know UAE FTA Requirements

null@example.com (boxygen) — Thu, 18 Feb 2021 06:03:16 +0000

Dear all UAE members here specially @rafat,

Can you please explain the FTA requirements by UAE authorities for any accounting solution? Is there any defined report/format?

Does FA fulfil those requirements or we need to do some modifications?