On 1 January 2018, value-added tax (VAT) will come into effect for the first time in United Arab Emirates. Naturally, small businesses are concerned about the financial and operational impacts of VAT compliance, especially since they’re used to operating in a low-tax business environment. While there will be implications for systems, infrastructure, skills and training, there…

The Federal Tax Authority (FTA) has announced that it will open online registration for tax purposes for businesses in mid-September 2017,providing an integrated system to serve the business sectors as per the highest international standards. This marks a major step underlining the UAE’s leading position in the application of a world-class tax system. The announcement was…

The introduction of VAT across the GCC from 2018 will represent the largest economic transformation for businesses that the region has ever encountered. The tax will have a profound and pervasive impact across all aspects and personnel of businesses. Yet, for consumers, its impact will be much more psychological than tangible. Implications for businesses It’s…