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In 2014, the UAE Ministry of Finance reported that the corporation tax policy has been approved by the UAE Cabinet, however, as of now, the corporation tax law draft is yet to go through the legislative approval process for it to be enacted. Corporation tax is a tax imposed by states to businesses and corporates […]

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VAT (Value Added Tax) is an indirect tax imposed by a Sovereign government on consumption. When a business is liable to collect and pay VAT there are a number of processes it will need to do to prepare for the on-going administration. A VAT registered business is therefore acting on behalf of the government as […]

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On the 24th February, it was announced by His Excellency Obaid Al Tayer that the UAE will implement VAT at the rate of 5% from the 1 January 2018. This is in line with the neighbouring GCC states also implementing VAT at around the same time or by 1 January 2019 at the latest. These […]

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