“On 27 August 2017, the Ministry of Finance of the UAE released the Federal Decree-Law No (8) of 2017 on Value Added Tax (“UAE VAT Law”). The UAE VAT Law provides the legal framework for the UAE’s introduction of VAT from 1 January 2018. The standard rate of VAT for goods and services is 5% […]
The Kingdom of Saudi Arabia is ready to implement a region-wide Value Added Tax from 1 January 2018. After issuing GCC Unified VAT agreement, the Kingdom of Saudi Arabia has published its draft VAT law along with VAT regulations. The enclosed fact sheet highlights the implications that VAT will have on businesses and provides extensive […]
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