The United Arab Emirates (UAE) is all set to welcome the new Value Added Tax regime from January 2018. As per the new law, 5 per cent tax is set to be imposed on the import and supply of goods and services at each stage of production and distribution.
Sheikh Ahmed bin Saeed Al Maktoum headed Dubai Free Zones Council and Federal Tax Authority voluntarily conducted a second edition of workshop on Value Added Tax (VAT) at the Dubai police officers club.
Reports said that more than 1000 representatives of various reputed companies across Dubai were participated in the workshop. The main objective of the workshop was to provide complete details regarding the new tax regime and the tax mechanism and that was good opportunity for all businesses to clarify their quarries and confusions about the Value Added Tax.
