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Deadline for submitting VAT returns extended in UAE

This enables taxable persons to meet their tax obligations without facing any difficulties. The Federal Tax Authority (FTA) on Tuesday issued a directive on an exceptional basis providing an alternative date of May 28, 2020 for the deadline of submitting value-added tax (VAT) returns and the payment of due tax for the tax period ended March 31, 2020, enabling taxable persons to meet their tax obligations without facing any difficulties. For more information, go to https://www.khaleejtimes.com/business/vat-in-uae/deadline-for-submitting-vat-returns-extended-in-uae

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Gulf governments should have a rethink on VAT

Since the outbreak of the coronavirus, Gulf countries have taken a series of urgent measures to support the business sector, companies and individuals, to help them cope with the economic fallout. For businesses, these nations created stimulus packages in the tens of billions of dollars, cancelled several government service fees, and provided discounts on utility bills. For more information, go to https://gulfnews.com/business/analysis/gulf-governments-should-have-a-rethink-on-vat-1.71110445

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UAE petrol prices revealed for May 2020

After a huge drop in April, prices will remain the same in May… Petrol prices experienced a huge drop last month, after three months of consistent pricing and then a drop in March. The UAE petrol prices for May have been announced, and are consistent with April. Super 98 will remain at Dhs1.91 per litre, while Special 95 is still Dhs1.80 per litre. Diesel will continue to be Dhs2.06 throughout the month of May. For more information, go to https://whatson.ae/2020/04/uae-petrol-prices-revealed-for-may-2020/

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Property prices in UAE continues to drop

In Dubai, residential property prices fell by 4.05% during 2019, following y-o-y declines of 8.22% in 2018, 5.23% in 2017, 2.86% in 2016, and 14.1% in 2015, amidst weak economic growth, low investor sentiment, and an oversupply of housing. During the latest quarter, house prices in Dubai dropped 1.5% q-o-q. For more information, go to https://www.globalpropertyguide.com/news-property-prices-in-uae-continues-to-drop-4012

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Answering your BOTIM questions: Why am I being charged when it’s free now?

Some residents have complained that they are being charged for using Voice over Internet Protocol (VoIP) apps. Those UAE residents who want to subscribe to Etisalat's free Internet voice and video calls must unsubscribe first and then subscribe it again to avail the offer. Some residents have complained that they are being charged for using Voice over Internet Protocol (VoIP) apps such as BOTIM when it is free for two months. This is because customers are not unsubscribing their existing packages first. For more information, go to https://www.khaleejtimes.com/business/telecom/what-you-need-to-know-about-using-botim-in-uae-1

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UAE F&B initiates COVID-19 counter measures

Fine dining restaurants are hurting in particular, while deliveries too have dropped Dubai: The COVID-19 outbreak had just about cleaned up the business of UAE’s restaurant sector. And the restrictions on movement between 8pm to 6am has further eaten into their delivery and takeaway orders. For more information: Go to https://gulfnews.com/business/retail/uae-fb-initiates-covid-19-counter-measures-1.70789688

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