Now it has been confirmed officially that price of petrol and gasoline will increase soon after the implementation of value added tax (VAT) from 1st of January 2018. The confirmation is made by Federal Tax Authority (FTA) for the first time. DG of FTA told while replying a question that petrol available from service stations…
The UAE government is trying to increase the list of goods and services coming under the range of value added tax (VAT). According to details, VAT will also be applied on electricity, water and parking in residential and commercial areas with 5% flat rate. This latest news will surely upset citizens and residents of UAE…
Dubai is a hub of business for entrepreneurs all around the world. The government is also making new developments in the city with the passage of time. One such example is the construction of Dubai South Free Zone. The specific free zone is a city in itself with the construction of various districts to cater…
Economic prosperity is the main feature of UAE and the country is trying its best to retain its position as one of the world’s strongest economy. Several reports have confirmed that UAE is expected to accelerate its economic growth in near future despite facing difficulties amid global oil crisis. The latest conformation of UAE’s economic…
UAE and Saudi Arabia are the two gulf nations set to implement value added tax (VAT) from 1st of January 2018. There is lot of concern and research on this topic in UAE by residents and entrepreneurs as they are still not completely aware about the situation. It is due to the emergence of conflicting…
UAE is continuously driving its efforts to diversify its economy in order to reduce the effects of oil crisis. Fortunately, few emirates (especially Dubai) had already developed several other sectors even before the emergence of 2014 oil crash. One such example is the travel and tourism industry. Apart from building beautiful and unique structures, UAE…