Value Added Tax Guide and VAT Compliance Audit in UAE Businesses operating in the United Arab Emirates are now required to uae vat registration, the new value added tax announced by the UAE Minister of State for Finance Affairs. The current rate stands at 5% and will be effective as of 1st January 2018.
Business owners should take into consideration that certain goods and services such as basic food, medicine/healthcare and education will be excluded from taxation. It is therefore important to understand the regulations thoroughly before deciding on the type of registration that is right for their company.
What is the reason behind the VAT implementation in UAE? In the United Arab Emirates vat registration dubai was introduced in 2018. This type of tax is imposed on goods and services supplied within the country, as well as those imported from outside the UAE.
What are the necessary steps to be taken by Businesses in UAE? Businesses in the UAE need to register for VAT before the end of 2017. This is done through the vat registration uae platform and requires careful preparation. Businesses must ensure that their goods or services are taxable by determining if they fall under the VAT law. Financial transactions must be carefully recorded in order to accurately calculate any vat registration charges. Businesses should document their income, costs and associated VAT charges carefully. Contact Us:
Address: - Suite 24 , Hamsha Building , Karama , Dubai , UAE Contact No.: - 971-501897335 Email: - info@uae-vat-registration.com Website: - https://uae-vat-registration.com/