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imapact of vat on business uae

Value Added Tax (VAT) - A tax on transaction; the concept is quite simple in theory, yet from a business perspective, the changes that the tax entails are often huge. It is a fact that the introduction of VAT system in the UAE will not just affect the end-consumers, but will have a deep impact on businesses as well. It won’t be too long to the introduction of VAT; as of Jan-2018, the UAE will in...

Top 3 FAQs about the UAE VAT implementation

With only half a year left before the implementation of the 5% value added tax (VAT) in the UAE roll out, a lot of questions about its regulation are still hanging in the air. We compiled the top three frequently asked questions and try to answer some of it. . Will the cost of living in the UAE go up? Yes, but this will depend mostly on the individual's lifestyle and spending habit. Wh...

3 Factors to Consider in Choosing the Right Auditor

Deciding which auditor to hire can be a bit tedious as it involves your company's financial stability. Ideally, the relationship between a company and the auditor should be long and beneficial for both parties.  Since the stakes are considerably high in choosing the right auditor, we have shared the key factors that a company needs to consider in order to choose the ideal auditor that will match ...

UNCTAD Ranked the UAE as the 12th Top Destination for FDIs

Recently, The World Investment Report 2017  by United Nations' Conference on Trade and Development (UNCTAD) shows that the UAE is the 12th most earned foreign direct investment (FDI) with an impressive inflow of $9 billion in 2016. The report also reveals that other countries, such as Bahrain, Lebanon and Saudi Arabia surpassed the rest in the region. Unfortunately, it's a whole different story f...

VAT – How Prepared is Your Business

VAT is about to mark the beginning of a new era for the Gulf Cooperation Council (GCC) countries by bringing in a fundamental shift in the countries revenue collection. As the GCC member states are to adopt Value Added Tax (VAT) on 1 January 2018, companies are on a limited timeline to prepare for the first phase of VAT implementation. In this point of time, regional businesses are scrambling to d...