In December 2017, European Union blacklisted 17 countries for being tax havens and use of these locations by companies and individuals for money laundering, tax evasion and criminal activities. But after reviewing the steps taken by these countries in the later months, now the EU has decided to remove the names of 8 countries from…
The tax free era in UAE has now completely ended. With the start of taxes on various goods and services, people are getting introduction for paying extra on various items. The UAE government is also trying to reduce problems of common people by providing complete information about the goods and services affected by VAT (value…
Value Added Tax (VAT) has taken effect in UAE since 1st of January 2018. The tax is laid on most of the services and goods and a rather complete list of tax-affected items was issued by UAE government before implementation of tax. But the list was not a comprehensive one and there was some ambiguity…
Dubai Global Village is one of the world’s largest shopping and entertainment events that has been held on annual basis since 1996. The current Dubai Village event is underway since 1st November 2017 and it will remain open till 7th April 2018. In order to attract more and more citizens and tourists, the administration of the…
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…