VAT

DXB Taxes

VAT in UAE & GCC

Value-Added Tax or VAT is a tax on the consumption or use of goods and services levied at the point of sale.

VAT is a form of indirect tax and is used in more than 180 countries around the world.

The UAE is considering levying Value Added Tax (VAT) from January 2018.

The rate of VAT will be 5 per cent.VAT will provide the UAE with a new source of income which will be continued to be utilised to provide high-quality public services.

It will also help government move towards its vision of reducing dependence on oil and other hydrocarbons as a source of revenue.

Implication of VAT on individuals

VAT applies to most goods and services, possibly raising living costs slightly. Impact varies by spending habits. Businesses must clearly show VAT, aiding informed choices.

Implication of VAT on businesses

Businesses must keep financial records. Those meeting the turnover limit must register for VAT, charge it on sales, and pay it on purchases. The difference is settled with the government.

VAT in GCC

The UAE coordinates VAT with GCC countries due to shared economic agreements and the GCC Customs Union, supporting regional development through joint policy implementation.

VAT Rules & Regulations: Watch the Experts

Why Choose Us

Our global network have been advising and implementing strategies to help organizations comply with their VAT obligations and reduce VAT liabilities and particularly for clients without full VAT recovery.

Identification of relevant VAT law clauses.
Impact assessment of VAT on the current accounting cycle.
Impact assessment of
VAT on Procurement & Supply chain.
VAT coding of accounts payables & receivables.
VAT impact on the Contracts.
Giving VAT Training Certificates.
VAT consultancy under the name of L E A Consultants

For more Details contact us https://dxbtaxes.com/

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