- 11 May, 2019
Consulting VAT Expert before VAT Submissions to Avoid Penalties
Ignorance is bliss but not in the case of VAT. The VAT is a very crucial matter in UAE and it should thus be dealt with carefully. Being careless about it may make a lot of hurdles for the companies based in UAE. Businesses who fail to comply with the rules and regulations of VAT may have to face serious penalties. These penalties may harm the business as well as t...More...
- 07 May, 2019
UAE residents confident about state of their finances, impact of VAT falling
Residents in the United Arab Emirates continue to be upbeat about the state of their finances, while fewer and fewer report they are seeing any impact from the introduction of value-added tax (VAT) on goods and services since last year, according to a new survey released on Tuesday. The Consumer Confidence Tracker Q1 2019 from financial website yallacompare surveye...More...
- 16 May, 2019
IMF suggests hiking VAT; commends Saudi reforms
The International Monetary Fund has recommended that the 5 per cent value-added tax (VAT) levied in Saudi Arabia and the UAE as part of a GCC-wide framework should be raised, saying it is low by global standards. The IMF suggested in a country note on the kingdom released late on Wednesday that the decision should be taken following consultations with GCC countries...More...