- 25 Dec, 2018
Taxpayers in UAE and Saudi Arabia: Get ready for official tax audits in 2019
Taxpayers in the UAE and Saudi Arabia will have to brace themselves for official audits next year as the roll-out of the 5 per cent VAT since January 1 this year overcomes a number of hurdles and teething problems. Now that regulations are in place, taxpayers are expected to prepare for audits by the UAE’s Federal Tax Authority and Saudi Arabia’s General Author...More...
- 09 Jan, 2019
UAE to be fastest growing GCC economy in 2019: IIF
"Consumer inflation will ease in 2019 in Saudi Arabia and the UAE after the VAT related spike in 2018. Downward pressure from the low rental prices will persist," IIF analysts said. The UAE will be the fastest growing economy in the GCC region this year along with Oman, driven by non-oil sector, Dh50 billion Abu Dhabi stimulus package and projects linked to Expo 20...More...
- 05 Jan, 2019
Federal Tax Authority announces results, successes of first year of VAT implementation
Khalid Ali Al Bustani, Director General of the Federal Tax Authority (FTA), asserted that in the first year of implementing Value Added Tax (VAT) in the UAE, the Authority registered many successes from deploying easy-to-use, hi-tech electronic systems to ensuring high compliance rates among businesses across the country. The VAT system has been praised by experts ...More...