Excise Tax will be introduced in the fourth quarter of 2017 of the year 2017 in the United Arab Emirates, under the framework of the unified agreement between the GCC countries. The other GCC Member States also aim to implement Excise Tax by the end of 2017. The UAE MoF has approved the UAE tax…
The unofficial English version of the GCC Unified Agreement on Value Added Tax (GCC UAVAT) is being issued; as the Arabic version of GCC, UAVAT has been publicized by the Saudi Official Gazette. The GCC UAVAT makes provision for the Value Added Tax (VAT) in all the six Emirates of GCC. The salient details for…
Dubai Silicon Oasis Authority, a 100% government-owned free zone that promotes modern technology based industries with the urban master-planned community, state-of-the-art infrastructure, and in-house business services. Following are the Steps to liquidate a company in Dubai Silicon Oasis The Company should submit a notice to the DSO free zone authority mentioning, the reason behind the…
In the UAE VAT, the Reverse Charge Mechanism is applicable while importing goods or services from outside the GCC countries. Under this, the businesses will not have to physically pay VAT at the point of import. The responsibility for reporting of a VAT transaction is shifted from the seller to the buyer; under Reverse Charge…
