From January 1, 2018 value added tax (VAT) came into effect for the first time in UAE. UAE is well known in offering low-tax business environment. Naturally businesses got concerned about the financial and managerial implications of VAT. Let’s dig into the benefits and downsides of VAT from business perspective but first, let’s understand why VAT is implemented in UAE? Why VAT is being implemented in UAE? For decades, GCC countries have relied on their oil resources to generate revenues. Due to [...]
March 21, 2018
By KWS Admin Business Setup Dubai Business Setup Dubai, Tax Rules for Business in UAE, VAT in the UAE Comments Off on VAT In the UAE – How Will the New Tax Rules Affect Your Business?