VAT IN UAE

VAT IN UAE

The UAE Ministry of Finance has announced to implement VAT in UAE, as an indirect tax applicable on goods and services at the rate of 5%, and is likely to be introduced from 1st January, 2018. Concerned businesses will have to be prepared before VAT will come into effect so as to fulfill their tax obligations. VAT is expected to be introduced with some limited exceptions including basic food items, health, education, social services, etc…