The United Arab Emirates (UAE) Federal Tax Authority (FTA) has published an updated version of its Voluntary Disclosure (VD) user guide.
The updated guide includes new sections providing guidance on VDs for tax groups (section 3.3). The guide states that VDs for tax groups can be submitted by the representative member of the tax group, while other members can only view the VDs submitted by the tax group.The guide provides an overview of the process for submitting a VD, which can be submitted against a previously submitted VAT return, an acknowledged VD, or a tax assessment.
The guide also includes a new section on VDs for deregistered tax groups (section 3.4). The FTA states that for already deregistered tax groups, the last representative member of a tax group can submit a VD against a previously submitted VAT return, acknowledged VD, or tax assessment, and provides an overview of this process.
Dubai Customs published a new customs policy no. 53/2022 on February 14, 2022.
This Policy takes effect on the date of its publication and replaces all previous rules and regulations mentioned in policy no. 28/2009, issued October 22, 2009.The Policy establishes the registration procedure for obtaining a Customs Importer Code, as well as the customs duties and responsibilities of the importer and exporter of records (i.e. customs code holder).
The following are some changes from the new policy:
For further information please refer to the following detailed Policy.
The Zakat, Tax and Customs Authority (“ZATCA”) recently announced a key change aimed at empowering the local manufacturing sector and enhancing exports out of the Kingdom, by removing fees for the issuance of Customs statements for Saudi exports.
This reduction of administrative costs for exports is a welcomed boost for homegrown industries and should positively impact the growth of exports from the Kingdom of Saudi Arabia (KSA). Additionally, this is expected to increase the competitiveness of Saudi exports in the global market.
For further information on this development, please click here.
Effective from 24 February 2022, Mawani has cut the exemption period for storage fees for imported goods from 5 days to 3 days. This move is aimed at enhancing the various clearance procedures at the ports and ensuring expedited movement of cargo.
Further, this will necessitate importers to ensure they fulfil their role to safeguard quick clearance of their imported goods i.e., within 3 days after goods arrive at the port. Failure to do so, will result in payment of storage fees as outlined in the new guideline.
For further information on this development, please click here.
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