#VAT

UBS says UAE economy to grow by 3.5% in 2023

UAE economy to grow by 3.5% in 2023

The country’s non-oil economy is projected to grow by a robust 4.5 per cent this year

VAT and accounting insights by Dr. Jeannette Vinke FCA, COO of the American University of Sharjah

Insights: How implementing VAT helped UAE’s accounting sector

The evolving landscape will require chartered accountants to steer the ship, bring clarity to the process and ensure compliance with regulations and policies

UAE's finance ministry amends some provisions of VAT law

UAE’s finance ministry amends some provisions of VAT law

The amendments were based on past experiences, challenges faced by various business sectors and recommendations received from relevant parties

World Cup host Qatar demurs on VAT, will wait for ‘right time’

“We will look to the right time to apply such taxes” – Finance Minister Ali Al Kuwari

UAE's progress on tax compliance

Insights: The UAE’s progress in meeting OECD international tax standards

A more solid, practical, and transparent fiscal system, combined with a new approach to alternative revenues, is helping the UAE strengthen its position as an attractive and competitive hub for international business and investment

Bahrain parliament approves decision to double VAT to 10%

The bill has now been sent to the Shura Council, the upper house of the National Assembly

ClearTax expands its operations into the Middle East, raises $75m

The tax and compliance technology solution provider is looking to enter the UAE by mid-2022 with e-invoicing and VAT offerings within the country

Uber, Careem said to face $100m tax bill in Saudi

The claims are reportedly related to a dispute over how to calculate value-added tax

Bahrain plans to double VAT in bid to curb deficit

Bahrain’s budget shortfall is projected to drop to 9.1 per cent of gross domestic product this year compared with 18.3 per cent of GDP in 2020

The impact of VAT on the Omani economy

GCC states have the discretion to zero rate and exempt certain categories of supplies and Oman has used this discretion

UAE: Services extended by artists, influencers subject to VAT – authorities

The UAE government instituted a 5 per cent VAT on goods and services in January 2018

How can UAE businesses ensure compliance with ESR and UBO regulations?

Employing the services of certified audit firms can help companies in the country meet regulatory requirements and avoid penalties

Oman expected to add $779m in revenue from VAT this year

The country last year announced it would impose a 5 per cent VAT in an effort to bolster the economy

Saudi Arabia plans spending cuts in 2021 as economy recovers

The kingdom will stick to its plan to cut spending by 7.3 per cent in 2021

Saudi Arabia to review VAT hike once economic crisis ends

The VAT hike to 15 per cent, was implemented in July this year

Saudi VAT increase: What are the long-term implications?

The kingdom hiked its value added tax (VAT) from 5 per cent to 15 per cent in July

Saudi Arabia extends Covid salary aid programme in reduced form

The programme originally covered 70 per cent of Saudi employees in firms with over five workers

Saudi Arabia is ‘assessing all options’ to stimulate economy

Saudi Arabia’s economy is expected to contract 4.8 per cent in 2020 before growing by 3.2 per cent next year

Oman Sultan to rule on VAT after legislature suggests 2022 start

Oman would become the fourth of the Gulf Cooperation Council’s six states to collect VAT

Saudi Arabia’s inflation rate surged to 6.1% in July on VAT hike

Saudi Arabia increased its value-added tax from 5 per cent to 15 per cent on July 1

How Saudi Arabian shoppers are gearing up for the ‘new normal’?

Saudi consumers while venturing out more than in preceding months, still prefer to retain several preventive measures while shopping in stores

Dubai family businesses seek VAT cut and government help to repatriate expat workers

Representatives of family businesses met with Dubai government officials last month

What will be the impact of Saudi’s VAT hike on businesses and consumers?

The kingdom has hiked its VAT rate from 5 per cent to 15 per cent starting July 1

No plans to hike VAT in the UAE – ministry

The UAE government levied a 5 per cent VAT on goods and services in January 2018

Saudi Arabia triples VAT, cuts cost of living allowances

The steps taken to shore up revenue and rationalise spending are valued at about SAR100bn in total

UAE extends deadline to submit VAT returns to May 28

The move will facilitate businesses and service providers to meet their obligations without facing any difficulties