Vat tips
Once you register for VAT with the FTA, a business is assigned a unique TRN number.
VAT is an indirect goods and services tax that is paid by the consumer as an additional percentage of the total price. Thus, the higher the original price of the product or service, the higher the VAT amount paid.
On 1st January 2018, the UAE government introduced the new indirect Goods and Services tax -VAT. This was a monumental announcement as the showed how the UAE is moving in a direction to financial strengthen the nation and be at par with the global forces.
Filing deadlines can creep up on you. Take a few minutes to save these 2022 tax filing deadlines to your calendar, and stay ahead of the IRS this year.
VAT is a form of indirect goods and services tax levied that came into effect on 1st January 2018. The introduction was part of the GCC member countries’ effort to lower their dependence on income from oil.