With the enactment of new reforms in 2017, the UAE business
setting has changed due to the issuance of new tax laws regarding
tax procedures, excise and value added tax (VAT).
On January 1, 2018, VAT will be adopted in the UAE, which is why
Eptalex| MEG Legal Services and ABOUSLEIMAN & CO. recently
hosted a seminar in Dubai on December 4, addressing businesses'
concerns on the legal aspects of VAT obligations as well as the
proper accounting procedures and technical steps to be compliant
with the new challenges VAT will likely pose.
The Major VAT highlights discussed consisted of
- Key points of the UAE VAT & Tax Procedures Laws by the Federal Laws n. 7/2017 & n. 8/2017 and the related executive regulations;
- Key steps businesses in the UAE should be taking now, as implementation is less than a month away;
- Unclear situations that companies might face regarding some provisions yet to be clarified by the authorities.
Click here to view the presentation delivered!
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.