UAE reissues 2018 VAT regulations

The United Arab Emirates has approved, and reissued the Executive Regulations for the introduction of 5% VAT on 1 January 2018. Draft regulations were published, and then retracted, earlier this month. The regulations provide details on:

• VAT rates
• Place of supply rules
• Exemptions from VAT
• VAT groups
• treatment of exports and imports
• VAT registration and deregistration,
• VAT compliance,
• VAT returns filings; and related practical issues.

UAE is introducing VAT alongside Saudi Arabia as the first two of the six countries of the Gulf Cooperation Council

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