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.
LATEST NEWS
Italy confirms bank guarantee requirements for VAT...
The Italian Revenue recently published specific information regarding non-EU companies engaging in intra-EU trade of goods to and from Italy. Businesses...
SEE MORE
LATEST NEWS
Germany coalition government to reintroduce 7% reduced...
The German government has confirmed the reinstatement of the 7% reduced VAT rate for food sales by hospitality businesses, from 1 January 2026. This VAT rate...
SEE MORE
LATEST NEWS
Sri Lanka to apply VAT on B2C e-services from...
The Inland Revenue Department of Sri Lanka confirmed it will introduce VAT on digital services supplied by non-resident providers to Sri Lankan...
SEE MORE