VAT News

UAE-VAT update

This week, the UAE government have announced the introduction of a tax procedure bill, which provides the framework for the introduction of tax systems, with the first being a selective sales tax later in 2017, followed by the implementation of VAT from January 2018.

The selective sales tax is due to be introduced to 93 different types of commodity, with VAT to be applied to a much wider range of transaction. The VAT legislation is expected to be revealed in the near future.

Recently, a federal tax authority has been created in the UAE, which will ensure understanding and compliance with the newly introduced taxes.

The government has also recently announced a number of training sessions to prepare businesses for the forthcoming changes.

Related articles

UK-Implications of a 'no-deal' Brexit

The UK government has released guidance on the VAT impacts of the UK leaving the EU with no deal negotiated

Read more
South Korea - VAT has been extended to foreign cloud computing

The scope of VAT has been extended to foreign B2C cloud computer services.

Read more
Romania postponing VAT cut

Romania is considering postponing cutting the19% VAT rate to 18% for 2019.

Read more