Value Added Tax (VAT) is an indirect tax that is imposed on goods and services at each stage of production or distribution. The United Arab Emirates (UAE) introduced VAT on January 1, 2018, with a standard rate of 5%. VAT registration is mandatory for businesses that meet certain criteria. In this article, we’ll take a closer look at VAT registration in UAE, who needs to register, and the process involved.
Discover the significant changes in the UAE’s tax landscape with the introduction of the new Corporate Tax system. This blog post delves into the details of the new tax regime, its applicability, tax rates, exemptions, and the impact on Free Trade Zones and Transfer Pricing Rules. Get a comprehensive understanding of how these changes align the UAE’s tax system with international standards and what it means for businesses operating in the UAE. Stay ahead of the curve by preparing for these changes today.
Businesses in the UAE are often bewildered by the tax treatment of VAT paid on motor vehicles while self-assessing their VAT liabilities. This could be possible because of two reasons first being a special transaction that is not normal in day to day business and the second being that the amount of tax paid is … Read more