VAT Introduction in UAE -what is exempt and what is not – Re-think
On December 5th 2017, the Federal Tax Authority (FTA) has announced the supplies that will be subject to Value Added Tax (VAT) as of January 1 2018, revealing selected sectors that will be assigned zero-rated tax, such as education, healthcare, oil and gas, transportation and real estate. Selected supplies in sectors such as transportation, real estate, financial services will be completely exempt from VAT, whereas certain government activities will be outside the scope of the tax system.
These include activities that are solely carried out by the government with no competition with the private sector, activities carried out by non-profit organisations. Please find in this link what is VAT exempt and what is not.
Re/think provides VAT Advisory, tax optimization, VAT implementation and training services in the UAE and throughout the GCC. Our team of senior qualified tax advisors, finance experts and tax accountants will ensure a timely and cost effective VAT services for SMEs. In addition to advisory and implementation services, our teams will be available after 1 January 2018 (“go-live” date) to perform VAT compliance and ongoing advisory, as your business grows and rules regarding VAT framework become more complex.
Who we are
Re/Think is a boutique accounting, audit, advisory, compliance and VAT advisory in Dubai, focused on providing businesses of varying sizes with timely, proactive, and customized business solutions from start-up and early development to the latest stages of a business lifecycle.
We offer tailored regulatory expertise and focus on guiding clients to reduce the risk of non-compliance across a wide range of compliance services and regulatory advice. While we focus on compliance consultancy services including advisory, training and process improvement, we do not just tell you what to do, we give you practical ways to make things work for your business.