The 2nd quarter after implementation of value added tax (VAT) is underway and the authorities and experts are closely examining impacts of this newly-implemented tax on various sectors. Previously, this tax was also reviewed on few important sectors that were facing negative effects after VAT. One such example is the reversal of VAT on gold…
At the time of implementation of VAT (value added tax) in UAE, the tax was levied on almost all the goods and services in order to increase tax net. But with the passage of time, the govt. is taking a close look at the impact of VAT on different sectors and examining that whether the…
Several months have passed since the implementation of VAT (value added tax) that was aimed to drive the economy of UAE towards diversification. In order to gain maximum benefit and equally put the burden on all sectors, the tax was applied on wider scale on most of the products and services and very few sectors…
Value Added Tax (VAT) in UAE has a wide scope and it covers almost every sector of the country’s economy. Although the tax is very small (just 5%) but many businesses are affected by this tax and they are feeling somewhat pressurized. But not every segment, is facing the problem of this newly implemented tax…
Everyone is aware about the implementation of Value Added Tax (VAT) in UAE. Most of the people in UAE are now quite much aware about the reasons of implementation of this new tax in the country and its effects on their daily lives and businesses. But still there is lot of ambiguity about the process…
Value Added Tax (VAT) is the hottest topic in UAE at this moment. There is lot of discussion among masses regarding the new tax on their lives and businesses. There are also concerns about the misuse of this tax by retailers and many people registered their complained to the government authorities about being charged heavily.…