The United Arab Emirates (UAE) Federal Tax Authority (FTA) has published a guide on its whistleblower program for tax violations and evasion.
The guide is intended to help informants successfully submit information and leads in a secure and confidential manner to notify the FTA of tax evasion or other tax offences being committed by any natural or legal person.
The FTA states in the guide that the whistleblowing mechanism has been introduced by the UAE’s Cabinet of Ministers, requiring the FTA to receive and process leads relating to non-compliance with the tax legislation, and to offer informants a monetary award where certain conditions are met, as detailed in the guide.
The guide also provides details about confidentiality measures in place, the process of submitting a whistleblower form, and additional information the FTA may potentially request.
The Oman Tax Authority (OTA) has published their long-awaited Value Added Tax (VAT) guide in English for the Financial Services Sector.
The guide provides interpretation and guidance on the application of the VAT Law and Executive Regulations, and covers both banking and insurance as well as the Islamic Finance counterparts.
The document also lays out several “Administrative Practices”, which require careful reading – these are in essence the approaches accepted by the OTA to facilitate the taxpayers’ compliance.
The guide covers the following topics in relation to financial services:
For more details, please refer to Deloitte’s recent alert.
The Egyptian Customs Authority has announced the launch of the pilot program for the pre-registration system for shipments received from the rest of the world by air.
On 15 May 2022, the pilot will kick off, and from 1 October 2022, the pre-registration system for shipments to air ports will become mandatory.
This digest is for information purposes only and should not be construed as advice. It does not necessarily cover every aspect of the topics with which it deals. You should not act upon the contents of this alert without receiving formal advice on your particular circumstances.