More relief as three UAE free zones are out of VAT scope

July 16, 2018

The UAE's Federal Tax Authority (FTA) has added three new free zones to the list of designated zones that will be out of the five per cent VAT scope imposed earlier this year. The new addition sees the total designated zones increasing to 23 across the...

All you need to know about VAT on gold and diamonds in UAE

July 1, 2018

The Federal Tax Authority (FTA) on Wednesday clarified that the new Cabinet decision issued about VAT reverse charge mechanism for the gold and diamond industry will only pertain to commercial transactions between registered dealers. As per the reverse charge...

7 Ways to Avoid VAT Penalties in UAE

July 1, 2018

The United Arab Emirates and the Kingdom of Saudi Arabia began the implementation of Value Added Tax (VAT) on January 1, 2018 at the rate of five per cent, while other GCC countries are expected to follow in the near future. As VAT is new to the region, it is...