An all-expenses trip to the US for the World final and a bucket-list visit to the Masters awaits the overall regional champions
What is VAT?
It is estimated that the UAE will generate more than Dh12 billion additional revenues in the first year after implementation of this new tax.
GCC countries have decided to implement taxation as part of the governments' efforts to diversify revenues in the context of sharp decline in oil prices. The International Monetary Fund has been recommending fiscal consolidation in the GCC through diversification of government revenues and reduction of subsidies.When will VAT be implemented?
How does it work?
Al Khoury also confirmed that companies whose revenues fall between Dh1.87 million and Dh3.75 million will have the option to register for VAT during the first phase of the VAT implementation.
He also mentioned that it will eventually become obligatory for all companies to be registered under the system, when it is rolled out in the second phase, regardless of the reported revenues.Will everything be taxed?
What will be exempt from the tax?
What will be taxed?
Will VAT be a cost to the business?
Will it affect prices/margins?
Do I need to start preparing for VAT? What should I be doing now?
Why is VAT being considered by the GCC?
President announces new UAE tax procedures law VAT to increase tax jobs in UAE UAE to benefit most in GCC from global trade, tourism rebound A proactive approach to GCC VAT implementation Taking out a mortgage or car loan in UAE? Act soon Bring on the VAT - we're ready, say UAE businesses
An all-expenses trip to the US for the World final and a bucket-list visit to the Masters awaits the overall regional champions
India's state election results are "likely positive for equity inflows and reduces some pressure for INR depreciation in the near-term", says expert
The lively celebrations kicked off on Saturday, signalling the start of a three-day weekend filled with laser displays, fireworks, and substantial discounts
Many of Gaza's 2.3 million people fled to the south after Israel ordered civilians to leave the north in the early days of the war
About 75 climbers started their way up the nearly 2,900-metre mountain on Saturday and became stranded
At least two people were killed after Saturday's quake, which was followed by a series of aftershocks of magnitudes exceeding 6.0 through Sunday
Lowest temperature is set to drop to 10ºC in mountainous areas today
'There’s plenty of deals to be found as airlines compete for travellers’: Travel experts reveal ways to reduce travel costs