28 September 2017
The United Arab Emirates (UAE) has opened its VAT registration portal for businesses to register in time for the launch of VAT on the 1 January 2018.
Recently the UAE published its Value Added Tax law confirming a VAT rate of 5% and a registration threshold for all businesses at Dh 375,000 (Approx. US$ 100,000). The law also confirmed that the new tax will be levied on most goods and services, with the exemption of essential items such as foodstuffs and health & social care services.
The UAE is part of the six-country Gulf Cooperation Council (GCC) and all of these countries have agreed to implement a harmonised VAT regime by 2018. The GCC countries consist of Saudi Arabia, Kuwait, the United Arab Emirates, Qatar, Bahrain, and Oman.
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