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Laws of Other Countries

3rd Port Shipment in UAE
Laws of Other Countries

3rd Port Shipment in UAE

3rd Port Shipment is a supply chain the executive’s technique where the business does not keep merchandise in stock yet rather moves its client's requests and shipment subtleties to either the manufacturer, another retailer, or a distributer, who at that point sends the products directly to the customer. As in business, most of retailers have their profit on the difference between the wholesale and retail price. There are different names utilized for such exchange model "Drop Shipment" “Foreign-to-Foreign shipment", "Triangle Shipment" and so on. What are the advantages of third Port Shipment? Considering third Port Shipment is overseen by a UAE company or distributor: it decreases supply chain costs;decline travel time or transportation time from the nation of origin to nation o...
VAT Penalty Reconsideration in UAE
Laws of Other Countries

VAT Penalty Reconsideration in UAE

The United Arab Emirates (UAE), the Federal Tax Authority (FTA) is the regulatory body for UAE VAT Laws and assumes responsibility for overseeing and collecting federal taxes and fines. The UAE Federal Tax Authority (FTA) has the definitive right to fine any company for infringement of Article (25) of the Federal Law No. (7) Of 2017, Administrative Penalties Assessment, which incorporates Tax Evasion, Late Registration for VAT, Deregistration, Failure to file VAT Returns inside the time span, Submission of wrong documents or incorrect data, No proper records. To err is the human nature, in like manner the when the company realizes that they are not entitled for any such penalties, at that point, according to Article (27) of the Federal Law No. (7) Of 2017, the company can present a penalt...