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Emirates is moving to impose value-added tax
8/19/15
Emirates has announced that it is currently studying the application of VAT in conjunction with the rest of the Cooperation Council for the Arab States of the Gulf states, as part of a prior agreement Pinha.oukalt UAE Ministry of Finance that the draft VAT law is still under especially in light of the failure to reach a final agreement between the countries of the study Council on the rate of this tax and a list of specific exemptions Bha.oohart that if the GCC countries reached a final agreement on issues related to the application of VAT, it will be declared as a Mbacr.ofattt that will give the sectors involved in the application of this tax time limit of not less than 18 months to prepare for the application and meet compliance requirements Bha.otad VAT tax is directly levied on the difference between the cost price and the price of Sales for Sla.otders Gulf states to impose value-added tax for years, and analysts believe that it may require the tax to the level of the region the application instead of the application in each country at different times so as to reduce smuggling and damaging the competitiveness of Alaguetsadat.oofaqa of the Ministry of operations, Immediately after reaching a decision on the imposition of VAT «will be given the sectors concerned to apply a time limit of not less than 18 months to prepare for the application and discharge the obligation tax requirements» the To that, the ministry announced continuing to study the reform of the corporate tax system in the UAE. She added: «will be given the sectors concerned a time limit of not less than one year to prepare for the application and discharge the obligation tax requirements after project approval and promulgation of the law» .otaah UAE markets off of anticipation regarding these and their impact on the living standards of tax and attract foreign investment.
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8/19/15
Emirates has announced that it is currently studying the application of VAT in conjunction with the rest of the Cooperation Council for the Arab States of the Gulf states, as part of a prior agreement Pinha.oukalt UAE Ministry of Finance that the draft VAT law is still under especially in light of the failure to reach a final agreement between the countries of the study Council on the rate of this tax and a list of specific exemptions Bha.oohart that if the GCC countries reached a final agreement on issues related to the application of VAT, it will be declared as a Mbacr.ofattt that will give the sectors involved in the application of this tax time limit of not less than 18 months to prepare for the application and meet compliance requirements Bha.otad VAT tax is directly levied on the difference between the cost price and the price of Sales for Sla.otders Gulf states to impose value-added tax for years, and analysts believe that it may require the tax to the level of the region the application instead of the application in each country at different times so as to reduce smuggling and damaging the competitiveness of Alaguetsadat.oofaqa of the Ministry of operations, Immediately after reaching a decision on the imposition of VAT «will be given the sectors concerned to apply a time limit of not less than 18 months to prepare for the application and discharge the obligation tax requirements» the To that, the ministry announced continuing to study the reform of the corporate tax system in the UAE. She added: «will be given the sectors concerned a time limit of not less than one year to prepare for the application and discharge the obligation tax requirements after project approval and promulgation of the law» .otaah UAE markets off of anticipation regarding these and their impact on the living standards of tax and attract foreign investment.
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