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…
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…
The date of implementation of Value Added Tax (VAT) in UAE is approaching and now things are getting clearer about the items that will come under VAT. Several speculations are coming to an end with few clear announcements recently made by UAE government. Few days ago, one such announcement was made by the related ministry…
UAE remained almost a tax free country since past several decades. It was not only due to the revenue it generated from oil and petroleum export but even emirates with less oil resources (e.g. Dubai) retained its economy free from taxes in order to attract entrepreneurs and tourists from all parts of the world. Due…
Value Added Tax (VAT) is the hottest topic in UAE nowadays. Businessmen, salaried persons and common people all are wondering about the impact on their lives after implementation of VAT. UAE and Saudi Arabia are two countries that have announced to implement VAT on various goods and services from 1st of January 2018 while other…
There is lot of discussion and searching for information regarding VAT (value added tax) in Dubai and among people intending to start business in the country as the tax will be implemented from 1st of January 2018. Both residents and entrepreneurs are somewhat worried about the effect of VAT on their everyday lives and businesses…