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VAT in the UAE approaches its 5th birthday on 1 January 2023 – but what’s next for VAT and the wider tax landscape?

For the financial year ended 31 December 2021 (FY21), relevant businesses and entities are required to submit their FATCA and CRS filings with the Ministry of Finance (MoF) via the MoF FATCA/CRS Portal, unless specified otherwise by the relevant regulator.

In our June 2022 edition of GT’s Monthly Tax Newsletter, you can read the latest news updates affecting Indirect Tax, International Tax, and Transfer Pricing in the UAE and across the Middle East Region.

As the Middle East Transfer Pricing Centre of Excellence, we support businesses across the Middle East with their Transfer Pricing requirements.

Foreign Account Tax Compliance Act (FATCA) and Common Reporting Standard (CRS) reporting is an annual compliance requirement in the UAE. For the financial year ended 31 December 2021 (FY21), relevant businesses and entities are required to submit their FATCA and CRS filings with the Ministry of Finance (MoF) via the MoF FATCA/CRS Portal, unless specified otherwise by the relevant regulator. The portal is open for registration and the filings must be submitted until 30 June 2022 for FY21.

In our April 2022 edition of GT’s Monthly Tax Newsletter, you can read the latest news updates affecting Indirect Tax, International Tax, and Transfer Pricing in the UAE and across the Middle East Region.

In our March 2022 edition of GT’s Monthly Tax Newsletter, you can read the latest news updates affecting Indirect Tax, International Tax, and Transfer Pricing in the UAE and across the Middle East Region.

In our January 2022 edition of GT’s Monthly Tax Newsletter, you can read the latest news updates affecting Indirect Tax, International Tax, and Transfer Pricing in the UAE and across the Middle East Region.

In our December edition of GT’s Monthly Tax Newsletter, you can read the latest news updates affecting Indirect Tax, International Tax, and Transfer Pricing in the UAE and across the Middle East Region.

In our November edition of GT’s Monthly Tax Newsletter, you can read the latest news updates affecting Indirect Tax, International Tax, and Transfer Pricing in the UAE and across the Middle East Region.

In our September edition of GT’s Monthly Tax Newsletter, you can read the latest news updates affecting Indirect Tax, International Tax, and Transfer Pricing in the UAE and across the Middle East Region.

The Federal Tax Authority introduced a Special Refund Scheme in 2020 to reimburse VAT paid on goods and services for official participants in Expo 2020.

In our August edition of GT’s Monthly Tax Newsletter, you can read the latest news updates affecting Indirect Tax, International Tax, and Transfer Pricing in the UAE and across the Middle East Region.

In our July edition of GT’s Monthly Tax Newsletter, you can read the latest news updates affecting Indirect Tax, International Tax, and Transfer Pricing in the UAE and across the Middle East Region.

Learn about the latest updates in Tax, Indirect Tax, and International tax in the UAE and GCC Region.

In this tax alert, our specialists, Steven Ireland and Muhammad Bhagat clarify the annual reporting requirements for all entities classified as Financial Institutions for FATCA and CRS Reporting (including the filing of Nil Returns) as stipulated within the regulations.