VAT SERVICES

The Gulf Cooperation Council countries have agreed to implement the GCC General VAT from 2018 onwards. A 5% VAT will be levied on the use of a range of goods and services and public infrastructure and services. The United Arab Emirates, along with other GCC countries, is involved in formulating a tax legal framework to ensure that it brings benefits and diversity to the local economy.

Our experience in various jurisdictions shows that businesses need a great deal of time to prepare their personnel, customers, suppliers, and systems that introduce value added tax. This shift requires the engagement and support of senior management to ensure the necessary collective participation in implementing VAT.

A good plan and implementation of VAT will lead to continued compliance and risk management in the business as well as benefits of cash flow management.