On 9 July the United Arab Emirates (UAE) Ministry of Finance (MOF) published an update of the Value Added Tax (VAT) FAQ section of its website.
Following on the awareness workshops launched by the MOF, such update provides some clarification on substantive and procedural aspects pertaining to the implication and implementation of VAT.
The full Q&A is available through this link: https://www.mof.gov.ae/En/budget/Pages/VATQuestions.aspx?utm_source=newsletter&utm_medium=email&utm_campaign=vat_in_gcc_news_uae_mof_updates_vat_faq_details&utm_term=2017-07-11
The updates are marked as "New".
This update means a further step towards the GCC-wide implementation of VAT. Your business should ensure to take the necessary actions to be prepared to deal with those regulatory novelties.
How can we assist you?
Arendt & Medernach: facing new challenges through experience and expertise
With the introduction of VAT in the GCC region, our recognised expertise and in-depth experience in the VAT field will provide you with top-quality value added services through a local presence close to the business of our clients.
Our “VAT & Tax Law” practice area, the largest Luxembourg practice area in its field which has received the most awards and recognition from the legal directories ranking Luxembourg law firms, can rely on a team of around 40 experts, divided into dedicated VAT, transfer pricing and tax compliance teams who provide bespoke tax advice and assistance to international clients.
Client service excellence provided in face-to-face advice
For more than 25 years, Arendt & Medernach has been the leading independent business law firm in Luxembourg. The firm’s international team of 325 legal professionals represents Luxembourg and foreign clients in all areas of Luxembourg business law from its head office in Luxembourg and its representative offices in Dubai, Hong Kong, London, Moscow, New York and Paris.
From our Dubai office, our VAT experts will provide clients in the UAE with face-to-face advice and assistance, supported by a dedicated and specialised team in Luxembourg.
A tailor-made service offer
- VAT scan: order a VAT scan of your business to obtain a rapid and concrete diagnosis of your VAT compliance.
- Training sessions: be compliant. In order to help you to become compliant with the new VAT regulation, Arendt Institute is organising training sessions.
Should you be interested in teaming up with our VAT advisors to evaluate the impact of the upcoming tax reforms across the Middle East on your business and define concrete action points to face those changes, or should you need dedicated training sessions, please do not hesitate to contact your dedicated team: http://www.arendt.com/practiceareas/pages/vat-services-for-the-gcc-countries.aspx