The GCC states (Gulf Cooperation Council) agreed “in principle” to impose the GCC agreement on value added tax (VAT) in the region. This will help the region reduce its dependence on oil and other hydrocarbon products as a source of reven...

The exceptions are also strictly enforced because they are an exception to the rule that VAT is levied. Zero Rates and exceptions The supply and importation of goods and services specified in a taxpayer’s tax decree constitute a taxable deliver...

The president, His Highness Sheikh Khalifa Bin Zayed Al Nahyan, issued federal tax no. 8 of 2017 on VAT on Sunday, with one of the lowest rates in the world. A preliminary step in the introduction of VAT in the United Arab Emirates from January 2018 ...

The VAT regime in the region will have a significant impact on business and profitability. Companies dealing with taxable goods and services need to understand and prepare for the consequences. Similarly, companies that import zero-rate goods should ...

Compliance requirements under the VAT If the company’s annual turnover is higher than AED 375,000 during the last 12 months, the company must register for value added tax in the United Arab Emirates. If the annual turnover is between AED 187,50...

Presently, UAE has entered into the league of countries that pays taxes. On Oct 1st, 2017, Excise Tax was made applicable upon residents in year 2018 while VAT (Value Added Tax) has just been exercised on Jan, 1st, 2018. The excise rate taxes are app...