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Home » UAE amends VAT Provisions
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UAE amends VAT Provisions

News DeskBy News Desk31 October 2022No Comments1 Min Read
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UAE amended provisions to the value added tax (VAT) rules. It will be effective from January 1, 2023.. Came in light of the GCC Unified VAT Agreement. VAT rule will undergo three significant changes:

  • VAT registration can be exempted if all of a person’s supplies are zero-rated.
  • Setting a 14-day window for releasing a tax credit note to pay output tax
  • FTA to forcibly deregister registered persons in some circumstances
  • The Gulf state levies no income taxes
  • But at the start of 2018, the UAE enacted a 5% value-added tax
  • UAE collects a tourism tax equal to about 10% of the price of a hotel room
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