Getting Along With VAT

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

1. Key points of the UAE VAT & Tax Procedures Laws by the Federal Laws n. 7/2017 & n. 8/2017 and the related executive regulations;