Being one of the most desirable business destinations for entrepreneurs, the UAE introduced VAT in January 2018. Recognised as a tax-free country globally, the rate of VAT is, however, 5 percent which does not burn a big hole in the business owners’ pocket. As VAT provides source of income to the government, it reduces the

The Value Added Tax (VAT) was introduced in the UAE on 1st January 2018 in a move to diversify the country’s economy by bringing forth new sources of revenue. Since its implementation, VAT has acted as a catalyst for economic stability by becoming an integral component of UAE’s taxation framework. In tandem, VAT registration has

As you may be aware, the UAE government has introduced the federal corporate tax law which has been in effect since 1st June 2023 has made a significant impact on the financial years of every business. Since corporate tax in the UAE follows the best global guidelines and standards issued by the Organisation of Cooperation