The United Arab Emirates (UAE) implemented Value Added Tax (VAT) in 2018 as part of its overall goal to diversify its economy and minimize dependence on oil income. All businesses operating in the country have been subject to certain VAT compliance practices ever since and…
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…
