What is Value Added Tax in UAE?
Value Added Tax or VAT in UAE is an indirect tax applicable on the consumption of certain goods and services. The taxation started in UAE from 1st January 2018, to accumulate an economy that can uplift the progressive plans of the country. VAT can be comprehended as a type of general consumption tax. VAT in UAE is imposed on a goods, product or service at all stages of supply until it reaches the end user. This means businesses collect VAT from buyer on behalf of the government. For traders and businessmen VAT in UAE will be a tax that can be shown as input credit and set off as output tax liability. However, the ultimate consumer or the end user will bear the final tax liability as there won’t be a possibility to set off VAT tax. For more information on VAT in UAE or to learn how to not get economically affected by VAT in UAE contact Shuraa Tax Consultants today!
We help you with all several UAE Dubai taxation services, including UAE VAT registration; VAT Accounting; VAT returns & refund; VAT filing and so much more! Call us on +97144081960 / +97150 579 5019 or visit https://www.shuraatax.com/
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