VATupdate

New tax schemes introduced in the UAE

The Board of Directors of the Federal Tax Authority (FTA) has reported that tax compliance in the country continues to increase, with the number of VAT registered businesses now exceeding 300,000. In addition, the number of approved tax agents has increased to 316. The FTA has also released details of several new schemes and procedures, which are summarised in this article.

Source: BDO

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