While the first week of VAT in the UAE saw a slump for several businesses, the following weeks saw the businesses come back to normal, said an industry expert. Introduction of VAT certainly created a stir in the country, but in its first month of implementation, businesses have realised that VAT is a clear and transparent policy posed to the final customer, added Vikas Panchal, business head at Tally Solutions in the Middle East, a leading international accounting and compliance software provider. The UAE introduced a 5 per cent VAT starting January 2018 with a standard return filing period of 3 months, applicable to most of the businesses while few businesses will be asked to file on a monthly basis.
UAE business back to normal after VAT roll out.
20 Feb, 2018 | Posted by Admin