Abu Timam Grant Thornton’s Post

October 2024 Tax Insights: Key Updates to Keep in Mind 1. Indirect Tax Revisions: Updated changes in VAT, excise duties, and indirect tax regulations across sectors. 2. Customs & Excise Tax Developments: New adjustments affecting customs policies and excise tax rates to consider for compliant import/export operations. 3. Economic Substance Regulations (ESR): Critical updates to ESR compliance for businesses operating across borders. 4. Corporate Tax Modifications: Essential corporate tax amendments, ensuring strategic tax planning and legal compliance. 5. Tax Treaty Changes: Key treaty updates impacting cross-border tax obligations. Let’s keep informed to navigate these regulatory shifts effectively!

Important Update on Tax Invoicing Requirements The Federal Tax Authority (FTA) has updated the guidelines for issuing tax invoices in specific scenarios: ✅ Simplified Tax Invoices must now be issued on the date of supply. ✅ Summary Tax Invoices must be issued and delivered within 14 days from the end of the calendar month that includes the date of supply. This change emphasizes timely and accurate compliance with invoicing requirements. Businesses are encouraged to review their invoicing processes to ensure adherence to the updated rules. Staying compliant is critical for avoiding penalties and maintaining smooth operations. If you need assistance or have any questions about these changes, feel free to reach out! #TaxCompliance #VATUpdate #BusinessTax #Accounting

Do you know you can easily revise your sales tax return online? The PRA-IRIS portal lets you submit revision applications and make necessary corrections. It's a simple process to ensure accurate tax filings. Read More: https://lnkd.in/dr75BQHB #PRA #IRIS #SalesTax #TaxReturn #FBR #TaxationPk #TaxLaws

Unravel the Complexity of GST with "GST SIMPLIFIED"[FREE SHIPPING] BUY NOW: https://lnkd.in/g3PpVizp Discover the cornerstone of modern taxation with our comprehensive guide, "GST SIMPLIFIED." Dive into the intricate world of Goods and Services Tax (GST) and emerge with a clear understanding of its implications for businesses and individuals alike. This book goes beyond mere theory. It equips you with practical insights, real-world examples, and actionable strategies to tackle GST compliance, optimize tax planning, and make informed decisions in today's competitive marketplace. With GST SIMPLIFIED, you'll: * Gain a solid understanding of GST fundamentals * Navigate GST compliance with ease * Minimize tax liabilities effectively * Harness the power of GST for business growth and success

Unravel the Complexity of GST with "GST SIMPLIFIED"[FREE SHIPPING] BUY NOW: https://lnkd.in/g3PpVizp Discover the cornerstone of modern taxation with our comprehensive guide, "GST SIMPLIFIED." Dive into the intricate world of Goods and Services Tax (GST) and emerge with a clear understanding of its implications for businesses and individuals alike. This book goes beyond mere theory. It equips you with practical insights, real-world examples, and actionable strategies to tackle GST compliance, optimize tax planning, and make informed decisions in today's competitive marketplace. With GST SIMPLIFIED, you'll: * Gain a solid understanding of GST fundamentals * Navigate GST compliance with ease * Minimize tax liabilities effectively * Harness the power of GST for business growth and success

VAT Health Check: It's the proactive approach to tax compliance. Our service ensures your business is in peak condition, ready for any tax audit. Stay on top of your tax game with ConsultZone: https://consultzone.ae/ #VATCompliance #TaxExperts #TaxConsultation #ConsultZone #financialadvice #businessesinDubai #TaxStrategy #VATHealthCheck

Tax Talk - November 2024 - Preparation for 2024 tax return FREE ON ZOOM Tax return is a crucial annual task of the accounting and finance department, especially for our SME clients. In addition to the mandatory compliance with the submission deadline, the declared information is also the basis for the tax authority to utilize and select subjects for audit/ inspection planning purposes. In many cases, the tax authority does not conduct audits of enterprises in years as they might have higher priority subjects based on the tax risk assessment. In this Tax Talk, KTC will share and answer practical questions from participants according to the following contents: • Regulations and notes on allowable expenses • Having illegal invoices and invalid supporting documents • Interest on loan • Corporate income tax incentives • Related-party transactions & price determination in these transactions Please register and join the seminar by our Tax Expert, Dr Au Thi Nguyet Lien, a senior tax officer. https://lnkd.in/gqwRtvWc

Clarification in respect of input tax credit availed by electronic commerce operators where services specified under Section 9(5) of Central Goods and Services Tax Act, 2017 are supplied through their platform -reg. Source: https://lnkd.in/gXeAS76p

Preparation for 2024 tax return - Free on Zoom Our Tax Talk will come back with our Tax Expert, Dr Au Thi Nguyet Lien, a senior tax officer who joins to share with us the experience to prepare and file tax return. Please register via the QR Code or contact me if you need any support. Looking forward to seeing you and your team members at the TaxTalk.

📑 Understanding Your Statement of Tax Record (STR) 📊 Ever come across the request for a Statement of Tax Record (STR) in a tender? 🤔 Here's the lowdown: 🔍 𝘞𝘩𝘢𝘵 𝘪𝘴 𝘢𝘯 𝘚𝘛𝘙? An STR is a document from the Australian Taxation Office (ATO) that verifies your tax compliance status. ⏰ 𝘗𝘳𝘰𝘤𝘦𝘴𝘴𝘪𝘯𝘨 𝘛𝘪𝘮𝘦 The ATO generally processes STR requests within 4 business days. 📅 𝘗𝘭𝘢𝘯 𝘈𝘩𝘦𝘢𝘥 To ensure you have your STR ready in time for your tender submission, it's essential to request it well in advance. Allow at least 4 business days for processing, plus additional time for any unforeseen delays. By planning ahead and obtaining your STR promptly, you'll avoid any last-minute stress and ensure your tender submission is complete and compliant. Have you ever come across the request for a Statement of Tax Record (STR) in tender documents? 🤔 #TenderProcess #StatementOfTaxRecord #PlanningAhead 🚀