The Federal Tax Authority (FTA) has published an updated version of its VAT Administrative Exceptions user guide.
The FTA has amended the criteria for requesting a change in the length of the tax period for small and medium enterprises without government funding. Previously, the total value of taxable supplies in the preceding 12 months had to be AED 5 million or less, but in the updated version of the guide this has been changed to AED 9 million or less.
These potential exceptions are limited to:
Tax invoices;
Tax credit notes;
Length of tax period;
Stagger; and
Extension of time for the export of goods.
Businesses that obtain Administrative Exceptions approved from FTA may be able to streamline VAT processes as well as decrease the risk of non-compliance, if any.
Source – Federal Tax Authority, United Arab Emirates
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