Tag: VAT
Can GCC VAT Hikes Offset Covid-19’s Fiscal Impact?
Emergency tax measures introduced in the region include the extension by several months of due dates for filing tax returns, the reduction or elimination...
UAE Currently Does Not Intend to Increase VAT
The Ministry of Finance (MoF) has denied any plans currently to raise the Value Added Tax (VAT) in the United Arab Emirates. VAT is...
Saudi Arabia Triples VAT to Counter Economic Impact of Coronavirus
Saudi Arabia will increase its value-added tax, VAT, from 5 to 15 percent in July, the Finance Ministry said on Monday, as part of...
Deadline to Submit VAT Returns Extended to May 28: Federal Tax...
The Federal Tax Authority (FTA) has issued a directive, on an exceptional basis, extending to 28 May 2020 the deadline of submitting VAT returns...
MOF to Expand Scope of Excise Tax Starting from 1 December
The Ministry of Finance (MoF) announced today its decisions to expand the scope of excise tax starting from 1 December 2019. This includes Cabinet...
Bahrain to Implement VAT Effective 1 January 2019
The parliament in Bahrain has today approved the introduction of Value Added Tax (VAT) which will be effective starting 1 January 2019 at the...
VAT Refund for Tourists In UAE Starts Q4 2018
The UAE Cabinet has adopted a decision to implement the value added tax refund system for tourists, which will integrate between retail outlets with...
VAT Refund on Building New Homes for UAE Nationals
The Federal Tax Authority (FTA) has set three requirements and procedures for UAE nationals to refund Value Added Tax (VAT) incurred on the new...
Diamond and Gold Trade Exempted from VAT as Demand Halves
The UAE Cabinet has adopted a law to introduce the VAT Reversed Charge mechanism for investors in gold, diamond and precious metals, meaning that...
VAT Has Limited Impact on Real Estate Sector
The Federal Tax Authority (FTA) and Dubai Land Department (DLD) have confirmed that the UAE’s recently introduced VAT will have a limited impact on...
VAT Registration Easy Through e-Services Portal, FTA Claims
The Federal Tax Authority (FTA) reaffirmed that registering for Value Added Tax (VAT) can be done in three easy steps through the e-Services portal...
UAE Optimistic For 2018 Despite Expecting VAT To Be A Challenge
New YouGov Omnibus research has found that despite expecting VAT to be a challenge in the UAE, residents are largely optimistic for the year...
How VAT Affects Home Ownership and Renting in Dubai
As a UAE resident, one of the biggest financial decisions you’ll face is that of buying or renting a home. Owning a home involves...
Economic Confidence in GCC Remains Stable despite VAT Adoption
Confidence in the Middle East is stable, even with the adoption of VAT in the GCC, according to the latest edition of the Global...
VAT Calculator, Tax Registration Number Verification Service Now Online
The new services are part of the Authority’s efforts to protect consumers and prevent any attempts at price manipulation and profiteering.The Federal Tax Authority...
The Impact of VAT on Car Ownership in Dubai
Owning a car in the UAE is a big decision since it involves many hefty expenses including fuel, insurance, parking and maintenance. For those...
Designated Zones in UAE for VAT Exemption Revealed
The Ministry of Finance has clarified the details of Cabinet Decision No. (59) of 2017 on Designated Zones for the purposes of the Federal...
UAE Residents Worried About Cost of Living Being Raised by VAT
• yallacompare survey finds 44.6% are worried about not being able to afford the increased cost of living as a result of VAT being...