Paul & Hassan Chartered Accountants

15/10/2020

Head over to http://paulhassan.com/about-us/our-team/ to find out about us, our team and how we can help you achieve your goals.

20/09/2020

Basic Tax Information Bulletin for Higher Education Sector

A bulletin named the “Basic Tax Information Bulletin on Higher Education has been issued by the Federal Tax Authority (FTA), which clarifies the following for Universities and Higher Education Institutions:

Supplies are subject to zero -rated VAT when:
1. Educational services provided by the university and/ or Higher Education institution are such where:
• the institution (Qualifying Institute) receives more than 50% of its annual funding directly from the federal or local government or is wholly owned by the federal or local government
• both the educational institution and the curriculum are recognised by a competent local or federal government body/ agency
2. Such supplies are directly related to the institution and the supply of digital or printed reading material is directly related to the recognised curriculum
3. Supplies include extra – curricular activities which are offered without any additional fees if not, any additional fees charged will be subject to VAT.
4. Such supplies include field trips when they are not predominately recreational and are also directly related to the curriculum.

Supplies are exempt from VAT when:
1. Supply includes transportation of students from home to the educational institution and vice – versa.
(However, it is to be noted input VAT can be proportionately recovered if the education institution is in the provision of exempt transportation services.

Supplies are subject to 5% VAT when supplies include:
1. Registration/ application fees and other supplies made by individuals not enrolled in the higher education.
2. Memberships fees in a student organisation
3. Electronic devices, food and beverages including vending machines
4. Rental of any property owned by the institution or in the premise of the institution such as auditorium, hall and/ or ground.
5. Additional clothing such as laboratory coats, irrespective of whether or not supplied by the institution as part of the supply of educational services
6. Research services conducted for external entities.

Input VAT can be fully recovered by educational institutions except for:
1. Expenses related to motor vehicles used for personal purposes
2. Expenses incurred for provision of entertainment

*Click the link below to view the bulletin copy for your reference.

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08/09/2020

Zero rated VAT announced for medical equipments in the UAE as per a resolution adopted by the UAE Cabinet to mitigate the repercussions of COVID - 19 and to support the healthcare in the country.

A resolution stipulating this was adopted by the UAE Cabinet on Tuesday

04/09/2020

Digital Tax Stamp (FTA DTS) - An app launched by the Federal Tax Authority.
Through this app the authority aims to combat tax evasion, prevent the sale of low- quality products which are harmful to both the public health and the environment thus protecting consumers.

31/08/2020

18/08/2020

17/08/2020

Job opportunities at Paul & Hassan

13/08/2020

The UAE's e-commerce has been growing exponentially over the last few years.

09/08/2020

Thought for the day.

06/08/2020

For more information/ assistance contact Paul & Hassan at http://paulhassan.com/contact-us/

Companies setting up under this FDI structure will be considered national companies, and will have full confidentiality of technical, economic and inves...

28/06/2020

An example of the saying - "One small step for man, one leap for humanity.
Paul and Hassan Chartered Accountants wish Mr. Jiji Varghese of J&J Marketing L.L.C - Dubai and GIGIS International LLC all the very best for their endeavour!
More information in the link below:
https://gn24.ae/a15f93d2852c000