Monthly Archives: November 2017

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VAT Now!

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Over the past decade or two, the UAE has made continued efforts in diversifying revenues away from oil and gas, by focusing on non-oil sectors including trade, finance, transport, tourism and healthcare. Another step in this direction is the introduction of a consumption tax in the form of a Value Added Tax of 5% effective 1st January 2018 as an additional source of revenue. In the first year of its implementation, this move can help generate more than AED 12…

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