VATupdate

A Quick Guide on VAT in UAE

VAT in UAE was introduced on 1st January 2018. The Federal Tax Authority (FTA) is responsible for all administrative and collection of taxes in the UAE. The introduction of VAT in UAE had lead to an increase in the revenue for the government and less dependence on oil resources. Also, VAT in UAE will make the business and the consumers more responsible for understanding their responsibility towards the payment of taxes and the welfare of the economy and the country.

Source: emiratesca.com

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