VAT registration opens ahead of 2018 introduction

VAT registration opens ahead of 2018 introduction

Online registration for Value Added Tax is now open.

The Federal Tax Authority says that companies with supplies and imports exceeding AED 375,000 a year must register before VAT is implemented on January 1, 2018.

The 5 per cent tax on things such as electronics, cars and eating out is being brought in as the UAE government seeks to diversify its revenue streams.

It’s estimated that the VAT will generate around AED 12 billion in the first year.



 
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