The introduction of Value-Added Tax (VAT) in the UAE is part of the government’s strategy to diversify its revenue source, secure its national fund for the improvement of public services, and to reduce its dependence on oil. The Federal Tax Authority (FTA) released a statement confirming that the number of…
A few months before the introduction of Value Added Tax (VAT) in the United Arab Emirates (UAE), analysts have streamed down the implications and impacts of VAT on primary areas such as the government, general public, and businesses. Among these sectors, the clear-cut beneficiary is the government. The country has…
After more than a year of the UAE Value-Added Tax (VAT) implementation, it’s now time to determine whether your company needs to deregister from VAT, whether you may deregister or continue being registered with the Federal Tax Authority and keep filing your VAT returns. Deregistration from VAT Deregistering from VAT…