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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.
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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. |
Re: How will work VAT in UAE?
Originally Posted by johnmark
(Post 12288305)
The VAT will be applied from 1 January 2018 in UAE. Please give brief information on VAT in UAE.
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Re: How will work VAT in UAE?
Originally Posted by johnmark
(Post 12288305)
The VAT will be applied from 1 January 2018 in UAE. Please give brief information on VAT in UAE.
Forget it being reclaimable. It'll become a sale tax. |
Re: How will work VAT in UAE?
Originally Posted by Millhouse
(Post 12288638)
It'll be a total ****ing shambles.
Forget it being reclaimable. It'll become a sale tax. |
Re: How will work VAT in UAE?
I believe they have been holding Seminars/Workshops, anyone been to one??
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Re: How will work VAT in UAE?
Originally Posted by Dubaiexile
(Post 12289146)
I believe they have been holding Seminars/Workshops, anyone been to one??
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Re: How will work VAT in UAE?
Originally Posted by Desert Dog
(Post 12289487)
Nope. I have a business and still have no idea as to what is going to happen.
https://www.mof.gov.ae/En/pages/workshops.aspx |
Re: How will work VAT in UAE?
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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 ! |
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.†|
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:eek:
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Re: How will work VAT in UAE?
Originally Posted by mission
(Post 12290014)
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:eek:
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Re: How will work VAT in UAE?
Originally Posted by Scamp
(Post 12290021)
Who on earth gave you such a responsibility?
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Re: How will work VAT in UAE?
Originally Posted by mission
(Post 12290022)
what can i say....clearly i am the only mug around here :thumbdown:
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