Since Value Added Tax (VAT) was introduced in the UAE in January 2018, companies in the country have found themselves adjusting to a new list of financial obligations. VAT return filing is one of the most essential among them. With intricate rules and tight compliance…
Value Added Tax (VAT) is a consumption tax payable for goods and services in the UAE, and VAT deregistration is just as legally necessary as VAT registration for businesses under certain conditions. Whenever a business in Dubai shuts down operations, its taxable turnovers drop below…
The Value Added Tax (VAT) came into force in the UAE on the 1st of January, 2018, as part of efforts to reduce dependence on oil revenues and diversify the economy. VAT is 5% and is charged over most services and goods, while every business…
The UAE’s Value Added Tax (VAT) implementation brought about a major transformation in the economy of the country. Effective from 1st January 2018, at 5%, VAT contributes significantly towards diversifying non-oil revenues for governments. For companies in Dubai, VAT knowledge and adherence is not just…
