The book created by Emirati illustrator Mohammed Al Rais and based on a tale by Swiss author Kurt Blum, is set to capture the hearts of young readers with its delightful story of uniqueness and triumph
The majority of healthcare services under the UAE VAT law have been classified as zero-rated. This effectively means that such services are subject to VAT at zero per cent but with the eligibility to recover the VAT incurred on associated costs.
"The government has a keen interest and focus on promoting the healthcare industry in the UAE. Keeping this intent in mind, the government has kept basic and preventive healthcare supply at a zero rate of VAT. But there are a lot of activities that are still subject to VAT," said Nimish Goel, partner at WTS Dhruva Consultants, while addressing a seminar on VAT.
Research reports suggest healthcare expenditure is projected to reach in excess of $100 billion in the GCC, with the UAE playing a prominent role. It is estimated that the UAE healthcare market is projected to reach Dh71.56 billion by 2020.
Dr Ramadan AlBlooshi, CEO, Dubai Healthcare City Authority - Regulatory (DHCR), said following the introduction of VAT at the beginning of last year, the authority received enquiries about its implementation.
"We are keen to provide a platform to help stakeholders have a better understanding of VAT to facilitate compliance in the free zone," he said.
- waheedabbas@khaleejtimes.com
The book created by Emirati illustrator Mohammed Al Rais and based on a tale by Swiss author Kurt Blum, is set to capture the hearts of young readers with its delightful story of uniqueness and triumph
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