- 22 Nov, 2020
Saudi Arabia to review VAT increase after the pandemic ends
Riyadh- November 22, 2020: Saudi Arabia will review its VAT increase after the coronavirus pandemic ends, the Kingdom’s acting media minister said. Saudi Arabia tripled value-added tax to 15% in July to offset the impact of lower oil revenue on state finances.The decision was a painful one and has undoubtedly caused concern for every individu...More...
- 15 Nov, 2020
FTA conducts a second virtual workshop for tax agents on tax treatment of e-commerce
Abu Dhabi- November 11, 2020: The Federal Tax Authority(FTA) confirmed that several general Value Added Tax (VAT) rules apply to e-commerce transactions, in addition to a number of special VAT rules specifically applied to e-commerce transactions. E-commerce refers to the supplies of goods and services on digital platforms, via computers or mobile...More...
- 12 Nov, 2020
UAE has no plan to hike VAT
Dubai- November 12, 2020: The UAE's Ministry of Finance said it raised Dh11.6 billion in value-added tax (VAT) revenues in the first eight months of 2020 and the government has no plans to raise VAT to more than five per cent. The UAE and Saudi Arabia levied five per cent VAT from January 1, 2018 and later Bahrain also introduced it. Saudi Ara...More...