To fully comply with the UAE VAT law, businesses may need to make some changes to their core operations, financial management and book-keeping, technology, and perhaps even their human resources.
It is essential that businesses try to understand the implications of the new taxes and make every effort to align their business model to government reporting and compliance requirements.
In the UAE, VAT will be levied at a rate of 5% on most goods and services, although there will be some exceptions.
End-consumers generally bear the VAT cost in the form of a 5% increase of most goods and services they purchase in the UAE, while VAT registered businesses collect and account for the tax, in a way acting as a tax collector on behalf of the government.
We help you in structuring your business and processes to make it VAT ready.