Overview of Value Added Tax (VAT) in the UAE Value Added Tax (VAT) was introduced in UAE on 1st January 2018. The Federal Tax Authority (FTA) is chargeable for all administrative and collection of taxes in the UAE. UAE imposes VAT on tax registered businesses on a taxable supply of goods or services at each step of…
The Federal Tax Authority has published VATP025, replacing Public Clarification VATP023, to address the “Temporary Zero-Rating of Zero-Rated Medical Equipment UAE VAT. Date extended till 31st December-2021 for VAT at the rate of 0% on certain supplies and import of medical equipment. After 31st December-2021, if there is any supply then normal procedures shall apply….
UAE To Implement 100% Foreign Ownership Of Companies From June 1 UAE Ministry of Economy has made a very important announcement stating that the new Commercial Company Law with regards to 100% Foreign Ownership will be effective from 1st of June, 2021. Foreign-owned firms no longer need a UAE national as an agent to operate businesses “The…
