Connect with us

Business

A Comprehensive Guide About VAT and Excise Tax in UAE

Published

on

VAT and Excise Tax in UAE

Not every country or region is the same in terms of business regulations, taxation and policies. There are some regions in the world like Europe, South Asia, and the Middle East, etc., where some countries have developed policies and agreements for some fixed rules and regulations. The purpose is to make trade and imports and exports easier.

Taxation is the most complicated matter in which a business organization has to follow the laws of the home country, and that of the host country too, in case of imports or exports. The businesses operating in the UAE have to be aware of its taxation system to avoid penalties.

What is VAT?

Value-added tax, commonly known as VAT, is the most common form of taxation implemented in the United Arab Emirates. This type of tax is applicable according to the value of the goods and services in a given time period.

What is Excise Tax?

Excise tax is the one that is implemented on specific goods and services. The tax amount is not applicable to the consumers but to the manufacturers or suppliers of that specific good or service. However, a small share of tax might be included in the selling price of that product.

Dig deeper into this article to explore a comprehensive guide about VAT and excise tax in the UAE.

Top 6 Points You Should Know About VAT and Excise Tax in UAE

Since the implementation of the VAT in the UAE, the general society thinks that it is the only taxation system in the country. However, it is not true, and some organizations or suppliers/dealers have to pay the excise tax in UAE too to follow the tax regulations. Knowing about these in detail is critical to stick to the laws and regulations.

Here are some of the major points you should know about VAT and excise tax in the United Arab Emirates.

1) Purpose of Tax

The first thing that you should know about value-added tax and excise tax in the UAE is that the purpose of tax implementation for both categories is different. Excise tax is implemented to discourage the sales of products harmful to human health. On the other hand, VAT is applied to generate income from the government, which will be used for public welfare.

2) Applicable Goods and Services

The second point that you should know about VAT and excise tax is that both of these are applicable to different goods and services. The excise tax is applicable to alcohol, tobacco, energy, and carbonated drinks. On the other hand, VAT is applicable to a vast range of goods, services, and businesses. Businesses usually hire the best VAT consultancy services in Dubai to ensure if they need to pay value-added tax and get expert guidance to fulfill their responsibility.

3) Rate of Tax

The next point you should be aware of regarding excise tax and value-added tax is the difference in the rate of tax. In the case of excise tax, the rate is 100% for tobacco, alcohol, and energy drinks, while it is 50% for carbonated drinks. On the other hand, value-added tax has three categories, i.e., zero-rated, standard rated, and exempt supplies.

4) Business Eligibility

The next point in the list that the business organization should know about excise and value-added tax is the eligibility of the businesses. In case of excise tax, the business manufacturing or dealing with alcohol, carbonated or energy drinks, as well as tobacco items are eligible to pay tax. The case is different for VAT as the organizations have to reach a threshold to be considered eligible for tax payment.

5) Tax Registration

One of the most critical points that you should know about excise and value-added tax is tax registration. In both of the cases, the business organizations eligible to pay the tax have to register for excise or VAT according to the goods and services they deal in. it is a bit complicated matter, as the organizations have to deregister too if they are not liable to pay tax anymore.

6) Refunds

The last thing that business organizations should know about excise and value-added tax is the difference in refunding. In most cases, the excise tax is not refundable. On the other hand, in the case of value-added tax, the businesses can claim a refund if there is a difference in the value of goods or services. You can hire the service of the best consultancy to take care of refunds with the help of experts.

Know about tax to fulfill your responsibility!

Paying taxes is one of the greatest responsibilities of business organizations. You cannot fulfill this responsibility until you are fully aware of the details of the tax. You still can commit a few mistakes that can earn you penalties. So, contact the experts to know and fulfill your responsibilities without committing mistakes or earning penalties.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

Most Exciting Hacks for Buying Indian Groceries In Berlin

Published

on

By

grocery store

Buying Indian groceries in Berlin is nearly the same as buying them anywhere. However, it can be a little tricky for Indians who are new to the city as the shopping patterns may differ. This is because in India, people usually live with their parents and grocery buying is not much of their responsibility. Once you move abroad, say Berlin, you have to take charge of how you can make buying Indian groceries in Berlin systematic and cheap.

Luckily finding a good online store for buying Indian groceries in Berlin is not an arduous task. Buying Indian groceries in Berlin can be initially challenging. Buying Indian groceries online in Berlin is a smart and viable option in these pandemic-driven days. All you need to understand is how you can have a good grocery shopping experience. You can do it easily by answering the following questions.

  • How often do you shop for groceries?
  • What exactly do you buy when you shop for groceries?
  • Do you love shopping for groceries for your home in bulk?
  • Do you consider planning on what you will buy in the physical or online store or are you a person who likes to purchase stuff randomly?
  • What is the average amount of money you spend on shopping for groceries each time you top?

These questions might help you evaluate the kind of shopper you are so that you can get better. Here we provide you with exciting hacks and tips that will help you shop Indian groceries in Berlin like a pro!

Exciting Hacks and Tips to Buy Indian Groceries Online in Berlin

1. Buy groceries online-

Buying online Indian groceries in Berlin is just a few clicks away now. What is better than conveniently ordering Indian groceries in Berlin on your couch than stepping out? There are many benefits attached to this valuable hack, and we can just go on and on with the list. Here we will provide you some key highlights of buying online Indian groceries in Berlin.

Buying online Indian groceries in Berlin saves time, saves you from moving into a crowd during a pandemic, offers you suitable prices and goods, etc. We suggest you do this select and add to the cart task on a reliable and genuine source.

Dookan.com is our top suggestion for you to buy Indian groceries Online in Berlin. They do not compromise with the product quality and other services which a grocery store must fulfill.

2. Plan Your Shopping-

Do not go for physical or online grocery shopping without planning on what you want to purchase. Many people forget about this aspect while shopping online for Indian groceries in Berlin or elsewhere. As a result, they end up overspending, which is not a good thing. Buying online Indian groceries in Berlin through Dookan.com gives courtesy to the customers to check how much they buy and spend.

3. Make a List-

Always prepare a list before going to a grocery store and even if you are buying Indian groceries online in Berlin. You need to take time to check the things that you want to have in the kitchen and refrigerator, for example, the masalas, basic cooking ingredients like oil, and other things. The list does not need to be necessarily on paper. If you are comfortable preparing it online, do it in the cart section of dookan.com for buying Indian groceries in Berlin. Make sure that you check each time that you are shopping.

4. Check quantities of Each Item-

Next, ensure that you have the required quantity listed each time you add an item in the cart for online buying Indian groceries in Berlin. For example, if you buy 1kg of sugar, check how many packs you need before you go to the next item.

5. Set Your Budget-

You should take some time to check and plan the grocery budget you have for the month. We would suggest monthly or weekly online shopping of Indian groceries in Berlin so that groceries do not take away a large chunk of your budget. It would then be easy and budget-friendly for you.

Try to stick to the list that you prepared. Impulsive shoppers spend a lot once they start shopping. As a result, they go out of the budget limits as planned. There are two ways to solve this problem.

  • One, you can plan to add some additional budget of 10 or 20 percent for ‘just in case’ situations. It will cover you when you open Dookan.com or similar websites to order Indian groceries in Berlin and cannot resist the exciting offers they provide.
  • You can also start practicing to limit your purchase. This will ensure that you do not waste foods that expire fast and control your budget.

6. Compare the Rates-

This is the last but not the least important hack for online buying Indian groceries in Berlin. Comparing rates is a smart and budget-friendly hack. Online shopping is much more convenient for comparing rates on different websites than in-store physical shopping. However, do not choose an online Indian grocery store in Berlin randomly. Try comparing the costs of two or more online Indian grocery stores in Berlin.

If you follow this easy shopping hack, you will know which website is most cost-effective. We can save you some time and tell you that Dookan.com is one such website that provides high-quality and cost-effective Indian groceries in Berlin. They provide great exciting offers and deliver at your doorstep along with giving free shipping. You can end up saving a lot of money by following this vital tip.

In a few days of practicing these tips, you will realize that you can save a lot of money while buying online Indian groceries in Berlin by following these simple hacks.

Continue Reading

Business

Does the background check agencies are help or not?

Published

on

By

background check agencies in Mumbai

Normally people when applying for the job, passport, and getting of document form the court their background thing is verified and check clearly. The background check process is done making you a trustable person for an organization. For the verification of any kind of back marks on workplace and behavior in the sense of it. It is simply to check the records of your character and behavior. To reduce the workload for background verification you can hire background check agencies in Mumbai where you can get the expert and proper person for your work. The process is done by the agent where they go for more under various circumstances over it. The background verification is trusted by many companies and gives the best way of service to the organization.

The benefit of background agencies

 One of the most wanted services is where you can get the exact person of work and gain growth towards the company. The organization used to hire background check agencies for checking any sort of issues faced by the company in previous and any kind of misbehavior in the previous company as a remark at you. The service lets give the best to get the information details without unknowing them. Being loyal is a must a gets caught for a wrong decision will make it worst enough.

It creates a major impact on the employment process and gives the actual and accurate information about the person even when they produce false information and certificate to get the job in a company. The background check agencies in Mumbai undergo deep investigation and report the person’s background in a rightful way of it. The service is highly effective and efficient to make and select the proper person for the company work.

Organization 

When you apply for a job on the company they used to verify the background of yours and give better information about you. It was simple but effective in which it makes the work easier for the company hire process. They check about organization commercial records, certification records, and attendance records. Even they used to check for the reason for leaving the previous company job.

To highlights any kind of criminal records as your history. Having criminal records will affect the job opportunity for getting out form the company. To avoid hiring the criminal person in a responsible job and rightful job. Also to ensure the safety of the organization and other staff members in the company field. To make sure the right person is properly managing the tough decision and give the proper solution when the situation beyond the hand of it. To avoid unnecessary stress and upset about the company work and pressure over it.

Banking sector

People when approaching the bank for different kinds of loans. For providing the loan you need to produces the required document for getting approval for a loan. Even though you produce the rightful document the agency will cross-check the background verification for the required amount and approves it.

Continue Reading

Business

Top 3 Business Ideas For People Who Live At Home

Published

on

By

Seo gold coast

With literally hundreds of thousands of business ideas available in the marketplace today, it can seem overwhelming to find the best business ideas for beginners. After all, this is the area where the most money can be made, so people are constantly looking for the best business to start and grow their existing businesses. For those new to internet marketing, however, this may not always be simple. It takes a certain level of determination and creativity to truly come up with a great business idea.

Fortunately, with literally hundreds of business ideas already available in the marketplace today, it may seem nearly impossible to locate the best business ideas for beginners. With that in mind, simply assemble this comprehensive list of the 101 Best Side Business ideas you can start while working a full-time job, to keep you motivated with proven concepts that are also applicable while you continue to maintain your primary source of income and spend your free time in between working hours.

Although this list may seem rather long, it does begin with one of the most important business ideas for beginners. Whether you are interested in network marketing or not, there is sure to be a company that offers what you are looking for. There are many companies available online to choose from, but it pays to do some research to find out which ones have a good reputation and which ones are simply in it for the money. Some of the best business ideas for beginners can often be found through networking with other network marketers who have found success with these or similar products.

Affiliate marketing

If you are interested in starting a home business, then another one of the top business ideas for beginners is affiliate marketing. Affiliate marketing involves promoting a product or service in exchange for a commission. You have probably heard of some of the bigger names in affiliate marketing such as Commission Junction, ClickBank and Amazon. Affiliate marketing is a great way to earn extra money online and can even turn into a successful full-time home business if you put in the work. There are thousands of affiliate products and services to promote online.

You can sell eBooks

Another one of the top home business ideas for beginners is selling eBooks or information products such as audio books, newsletters, reports, and other types of self-help or educational materials. There are hundreds of millions of people who use the internet each day, and you can tap into this market by creating an information product that they will be happy to purchase. The key to making a sale is providing valuable information that will help them achieve their goals. Selling an eBook or other information product to this audience will bring you additional income as well as provide you with a lucrative new career opportunity.

Online store

Many people are now opening their own online stores by using their computers and the internet. These stores usually sell merchandise that they create themselves, such as decorations, crafts, jewelry, clothing, and many other items. One of the best business ideas for beginners is creating your own online store to sell goods and services of your own creation. This can include anything from creating personalized jewelry or unique electronics to creating handmade crafts or furniture. If you enjoy being creative and are well at business, you will be able to succeed in creating your own online store.

Continue Reading

Trending

Copyright © 2020 wackulus.