The EU announced the discovery of a sophisticated US$2.3-billion VAT tax fraud that triggered raids in 14 countries, including France, Germany, Greece and Spain. Over 600 people participated in the scheme, "believed to be the biggest VAT carousel fraud ever investigated in the EU," according to the European Public Prosecutor's...

The FTA will begin accepting applications for refunding input tax incurred on building mosques from Nov 1.

Abu Dhabi, UAE— The UAE Ministry of Finance announced amendments to some provisions of the Federal Decree-Law No. 8 of 2017 on Value Added Tax (VAT), which will be effective from 1st January, 2023. The amendments were made are in line with international best practice in light of the GCC...

The country is aiming for a budget surplus for the first time in eight years amidst increasing oil prices and the gradual opening of global markets, say market research firms.

The Federal Tax Authority of the UAE has organized field tours to ensure the readiness of Self-Service Kiosks, which allow tourists to recover Value Added Tax on their purchases. The kiosks have been placed at all exit ports included in the VAT Refund Scheme for Tourists. Tourists can submit their...

Saudi Arabia will not reduce value added tax any time soon, but will consider doing it when it public finances will have improved. This was stated by Saudi Finance Minister Mohammed Al-Jadaan .

Bahrain plans to double its VAT rate to 10 percent, which is likely to drive its citizens to shop in the neighboring United Arab Emirates.

The new services are said to offer four different services that aim to raise the target audience’s awareness, provide them with easy access to information, and allow them to communicate directly with FTA representatives.

Those who have not filed VAT returns would see a fine of up to OMR5,000 (around $13,000) imposed on them.