How will work VAT in UAE?
Jul 6th 2017, 2:02 pm
#1
Banned
Thread Starter
Joined: Jul 2017
Posts: 1
How will work VAT in UAE?
The VAT will be applied from 1 January 2018 in UAE. Please give brief information on VAT in UAE.
Jul 6th 2017, 2:09 pm
#2
Joined: Dec 2001
Location: Dixie, ex UK
Posts: 52,446
Re: How will work VAT in UAE?
Are you asking from the perspective of a consumer, retailer, wholesaler, or producer/manufacturer? Each will have a different perspective on "how it works".
That said, there is a common mistaken belief that VAT is just a sales taxes, whereas actually VAT is a tax on "value added", and so rolls up to an increasing amount as goods pass along the supply chain from manufacturer to consumer.
That said, there is a common mistaken belief that VAT is just a sales taxes, whereas actually VAT is a tax on "value added", and so rolls up to an increasing amount as goods pass along the supply chain from manufacturer to consumer.
Jul 6th 2017, 9:04 pm
#4
Lost in BE Cyberspace
Joined: Aug 2009
Location: Disneyland, Dubai
Posts: 15,887
Jul 7th 2017, 3:31 pm
#6
BE Enthusiast
Joined: Jul 2013
Location: Dubai
Posts: 990
Re: How will work VAT in UAE?
I believe they have been holding Seminars/Workshops, anyone been to one??
Jul 8th 2017, 4:57 am
#8
BE Enthusiast
Joined: Jul 2013
Location: Dubai
Posts: 990
Jul 8th 2017, 4:58 am
#9
BE Enthusiast
Joined: Jul 2013
Location: Dubai
Posts: 990
Re: How will work VAT in UAE?
Jul 9th 2017, 5:16 am
#10
BE Forum Addict
Joined: Feb 2007
Location: Kuwait
Posts: 1,202
Re: How will work VAT in UAE?
We had a workshop arranged by one of the big four (no idea why as we are an investment company!)
They were clueless to say the least - talked more about the VAT for UK and comparable structures for US.
I think Kuwait will follow the Saudi rules/process for VAT (post implementation) which is available in English - but it is more of a strategy paper than specifics.
Final conclusion: No light in the middle of the tunnel let alone at the end of the tunnel !
They were clueless to say the least - talked more about the VAT for UK and comparable structures for US.
I think Kuwait will follow the Saudi rules/process for VAT (post implementation) which is available in English - but it is more of a strategy paper than specifics.
Final conclusion: No light in the middle of the tunnel let alone at the end of the tunnel !
Jul 9th 2017, 5:26 am
#11
Account Closed
Joined: Feb 2011
Posts: 0
Re: How will work VAT in UAE?
For those who haven’t done anything yet to prepare their core operations for VAT, Stevens said, they still have time to get themselves ready before the go-live date.
“Businesses do still have time. But the sooner they commence, the more optimal the outcome they may achieve.”
“Businesses do still have time. But the sooner they commence, the more optimal the outcome they may achieve.”
Jul 9th 2017, 6:43 am
#12
BE Forum Addict
Joined: Jul 2008
Location: Dubai
Posts: 2,843
Re: How will work VAT in UAE?
i'm dreading this...i have to sort our our office here in Dubai and the one in Qatar...frigging KPMG who are our auditors are useless.....not sure what the eff i'm going to do
