A week has passed since the implementation of value added tax (VAT) in UAE. Most of goods and services are slightly affected with the implementation of this new tax. But it seems that both common people and entrepreneurs have gladly accepted the slight increase of prices of various products and services as they are hopeful…
Despite concerns about the effects of newly implemented value added tax (VAT) on businesses in UAE, the Department of Economic Development (DED) is confident that the new tax will impact positive changes on local businesses as well as on the economy of UAE as a whole. According to an official of DED, the implications of…
A new era has started in UAE and Saudi Arabia on 1st January 2018 with the implementation of value added tax (VAT). It is the first time that such tax was implemented in the Gulf region. There was much concern and anxiety among masses after the announcement of tax last year as people were not…
Dining out is an important feature of Emirati lifestyle. It is more prominent in big cities like Dubai, Abu Dhabi and Sharjah where large numbers of foreigners are residing and food items from various parts of the world is served in restaurants. It is the reason that hotel and restaurant business is growing steadily in…
UAE and Saudi Arabia are the two gulf nations set to implement value added tax (VAT) from 1st of January 2018. There is lot of concern and research on this topic in UAE by residents and entrepreneurs as they are still not completely aware about the situation. It is due to the emergence of conflicting…
The time for implementation of Value Added Tax (VAT) is approaching in UAE and now the ruler of Dubai (who is also PM and vice president of UAE), Sheikh Mohammad bin Rashid Al Maktoum, has signed Executive Regulation on VAT. According to this regulation, 5% VAT will be imposed from 1st of January 2017 on…