Hallmark International

In 2018, consumers in UAE are expected to pay a 5 per cent value-added tax when purchasing most goods and services The six states in the Gulf Cooperation Council (GCC) region have agreed to implement VAT in order to reduce the burden on hydrocarbon products as a source of revenue

COMPLIANCE REQUIREMENTS UNDER VAT

GENERAL IMPLICATIONS ON VAT

VAT refers to Value Added Tax It is a general consumption tax which is applied on goods and services as the Value incrementally increases at various stages of production, sales and marketing

In Dubai, couple of items is exempted whereas; government has tentatively fixed the VAT percentage as 5% w e f January 2018

We have training programs for general awareness of VAT and its services We have special modules designed to suit the needs of various Business owners, Accountants, Auditors, and other Finance Professionals and Corporate

Value Added Tax (VAT) is an indirect tax It is a type of general consumption tax that is collected incrementally, based on the value added, at each stage of production or distribution/sales It is usually implemented as a destination-based tax It is also known as goods and services tax (GST) in some countries

Why External Audits are Crucial for Businesses Operating in the UAE

An external audit is an objective examination of the company's books of accounts by an auditor to verify if the [

]

Must-Know UAE Visa Updates in 2023

1 UAE residents traveling to the EU now no longer need visa stamps Applicants can now apply and receive a [

]

UAE opens pre-registration for corporate tax for certain business categories

The UAE has started early corporate tax registration for certain categories of companies operating in the country ahead of its [

]