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New system to collect tobacco tax
Nov

28

2018

New system to collect tobacco tax

A scheme to digitally track all cigarette products to guarantee compliance with excise tax requirements in the UAE will be launched on January 1, 2019. The decision stated that the scheme will go into effect on January 1, 2019, affecting all types of cigarettes sold locally – whether imported or locally produced – with plans to gradually expand the scheme to include all tobacco products….

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VAT on compensation payments
Nov

19

2018

VAT on compensation payments

The Federal Tax Authority (FTA) on Sunday issued a clarification about the imposition of VAT on compensation type payments, saying those payments will not be subject to five per cent tax if the payment does not relate to a supply of goods or services. The authority noted that as part of business agreements, businesses usually make payments to compensate each other for any loss, negligence…

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What makes Nam Associates different…
May

23

2013

What makes Nam Associates different…

The difference between NAM Associates and other accounting firms can be found in many areas including our operating philosophy, skills, affiliations and the clients we serve. We are committed to guiding principles that include excellence in standards, accessibility, fast assignment turn-around, seamless communications, integrity and adding value. We are more than just accountants, we help our clients examine the way they do business, focus on…

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