Top 8 VAT changes you should know about

Business owners should evaluate the implications of the recent changes before they come into effect on January 1, 2023.

• 1. Extended time for a Tax Audit
• 2. Tax audit after Voluntary Disclosure
• 3. Tax Evasion
• 4. Failure to obtain VAT registration
• 5. Good news for 100% exporters
• 6. Additional compliance for input credit on import of service
• 7. Construction sector and retention payments
• 8. Deemed supplies to related parties

Source Khaleej Times

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