Tag - Construction Firms

March 2018

Construction Firms Should Be Wary Of VAT-Related Cash Flow Issues

Construction firms should be wary of VAT-related cash flow issues

UAE government recently announced to introduce value-added tax (VAT) at the rate of 5%, implementing from January 1, 2018. VAT has also been implemented simultaneously in all GCC countries. Companies in UAE, Saudi Arabia, Bahrain, Oman, Qatar and Kuwait having annual revenues of more than $100,000 will register for tax. It is anticipated that at least 95% of companies will conform during initial phase. If you want to know why VAT has been introduced and what will be its implications, [...]

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