About Prakash Parnami

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So far Prakash Parnami has created 2 blog entries.

FTA to hold tax clinics to promote compliance

The Federal Tax Authority (FTA) has announced a new campaign to communicate directly with businesses. The campaign kicks off on Sunday, August 12, 2018, in Ras Al Khaimah, before moving on to Fujairah and then the rest of the emirates for a duration of three months, where representatives from the Authority will be present at [...]

VAT on Compensation Payments

In the normal course of business, sometimes there will be payments in the nature of compensation for any loss, omissions, breach of contracts etc. Whether the payments on such compensation nature are taxable under the UAE VAT or not? Recently the FTA has issued a public clarification (VAT P 001) related to VAT treatment on [...]