Tag: Taxation
Dubai Economy Asks Businesses Not to Hike Prices Ahead of VAT
The Commercial Compliance & Consumer Protection (CCCP) sector in Dubai Economy has called on retailers in Dubai not to use the VAT (value added...
VAT for Residential and Commercial Real Estate Explained
The supply of commercial real estate, selling or leasing, will be subject to the Value-Added Tax, VAT, at 5%, while residential units will remain...
30 Business Days Left To Register For VAT
Value Added Tax is set to go into effect on January 1, 2018.
A 5% tax will be imposed on the import and supply of...
Executive Regulations on Value Added Tax Announced
Ministry of Finance Announces Executive Regulation for Federal Decree-Law No. (8) of 2017 on Value Added Tax
The UAE Ministry of Finance has announced the...
VAT to Increase Costs for Real Estate Investors Across GCC
A survey of local investment professionals across the GCC region revealed that real estate is likely to become a costlier investment following the implementation...
Federal Tax Authority Calls On All Businesses To Register for VAT
Registration is encouraged to avoid the risk of missing the January 1, 2018, deadline, which would entail the Administrative Penalties stipulated in Cabinet Decision...
VAT in GCC: Benefits of Voluntary Registration
From 1 January 2018, any business operating in the Gulf Cooperation Council (GCC) group of nations that earns revenue of Dhs 375,000 or more,...
Executive Regulation of Federal Law on Tax Procedures Released
The UAE Ministry of Finance has release the Executive Regulation of The Federal Decree-Law No (7) of 2017 on Tax Procedures, approved by the...
Excise Tax to Go into Effect on October 1, 2017
The planned Excise Tax is set to go into effect at the beginning of October 2017, announced the Federal Tax Authority (FTA) at a...
UAE Excise Tax To Be Paid in e-Dirham Only
The UAE Excise Tax, due to go into force effective 1st October, shall be collected in e-Dirham only, the Federal Tax Authority has announced.
The...
VAT in GCC: What does it mean for your business?
On 1 January 2018, value-added tax (VAT) will come into effect for the first time in United Arab Emirates. Naturally, small businesses are concerned...
69% of GCC Businesses Not Prepared for VAT Introduction
The Gulf Cooperation Council (GCC) Value Added Tax (VAT) Treaty has now been signed by all six GCC states who have been taking concrete...
Middle East Point of View: Ethical Tax, Anti-bribery Management and GCC...
Financial institutions are working together to combat tax evasion, bribery and corruption through ISO certifications and the Common Reporting Standard. These are among the...
VAT in UAE Will Curb Unhealthy Consumption
The price of fizzy drinks and tobacco is about to go up. The Federal National Council last week approved a draft law setting up...
Another step closer to VAT implementation in GCC
The Ministry of Finance in the United Arab Emirates (UAE) has recently launched a series of Value Added Tax (VAT) and excise awareness sessions...
UAE to begin implementing G20, OECD procedures for tax information exchange
The Ministry of Finance (MoF) has announced that the UAE will begin implementing the standards of joint disclosures and the exchange of information for...
Beauty salons in Dubai told to install automated cash registers
‘e-Cashier’ campaign aims to enhance transparency and eliminate fraud
Consumer complaints against salons seen to rise during holiday season
The Commercial Compliance & Consumer...
VAT in GCC – It’s coming, so how do we get...
To help businesses in the Gulf Cooperation Council (GCC) countries understand the potential impacts of the implementation of VAT, Deloitte in the Middle East...