Just one month is now left in the implementation of value added tax (VAT) in UAE but the things aren’t completely cleared yet. There are still several speculations going on about the products and services that will come under the previously announced and soon to be implemented tax even after the signing of the VAT…
International Business Company/Corporation (IBC) is a type of offshore company that is established in few exclusive jurisdictions (tax havens) under the laws of that locality. Such corporations are either tax free or liable to very little tax. There are few restrictions on such companies in few jurisdictions. It is important to note that not all…
The time for implementation of Value Added Tax (VAT) is approaching in UAE and now the ruler of Dubai (who is also PM and vice president of UAE), Sheikh Mohammad bin Rashid Al Maktoum, has signed Executive Regulation on VAT. According to this regulation, 5% VAT will be imposed from 1st of January 2017 on…
Recent past has seen reduction in oil and petroleum prices that alarmed the countries depending solely or heavily on oil & gas. These nations started taking measures to minimize the eminent effects of this change on their economies. UAE is one among these countries. Apart from diversification of its economy (Dubai is already hub of…
The preparations for upcoming Value Added Tax (VAT) are underway in UAE and now in a latest move, the government has started registration for tax agents and tax accounting software vendors. According to details, the Federal Tax Authority (FTA) has opened registration for tax agents and tax accounting software vendors. Minimum three years of experience…
Dubai has transformed into a global city due to its status of being one of the world’s most business-friendly and tourism supported cities. Dubai’s economy is consistently growing in recent years and it is an important reason that entrepreneurs from around the world are ready to invest in different sectors of Dubai. In order to…
