UAE VAT Update September 2017

26 Sep, 2017 - UAE Life & Economy

Value Added Tax (VAT) is due to be introduced in the UAE and wider-GCC on January 1st 2018; you can read about the general context & drivers in a previous blog, to be registered for VAT) where the supplies are made within the same GCC member state   in the course of carrying on a business.

  • The importation of goods from outside of the GCC.
  • The exportation of goods or services to outside of the GCC – although these supplies will be reverse charge mechanism.
  • The receipt of services from outside of the GCC by a VAT registered customer – by the application of the reverse charge mechanism.

    • This is a fast moving area and whilst the BCB will seek to highlight news & relevant developments that we’re aware of, we are not tax advisors and we strongly recommend that professional advice is taken as the legislation becomes more clear.  We can help you find qualified providers in this field.