Where to Find Accurate Information About VAT in Dubai

Updated on Saturday 10th February 2018

Because the VAT was recently introduced in the UAE, there have been situations in which misleading information about the financial statements companies were offered. The Federal Tax Authority in Dubai wanted to clear the speculations and to address a solid request in this sense, and that is to take in consideration only the official website of the institution when it comes to this tax. If you have a company in Dubai and you need tax advice or consultancy, you can talk to our team of accountants in Dubai.

The FTA in Dubai, the only reliable source of information

The Ministry of Finance and the Federal Tax Authority in Dubai recently informed companies with establishments in this city to comply with their rules and regulations when it comes to VAT implementation and other tax-related inquiries. Accurate and detailed information about how a company should comply with the VAT conditions can be found on the official website of the Financial Tax Authority and no other place.

Companies in need of guidance in the matter of taxes should ask for assistance from our Dubai accountants. Our team is at your disposal at any time and can perform audits in Dubai on request.

How VAT was introduced in Dubai

Many products and services offered for sale purposes in Dubai have suffered price changes due to the introduction of the value added tax since January 2018. The good news is that the education and the health sector are at the moment exempt from such tax. The VAT is imposed for companies with profits above $ 100,000 per year, the other ones being relieved from taxation, but the authorities in the UAE are expecting to collect around $ 4 billion from such tax in 2018. We remind that the VAT collection will then be implemented in special development projects in the GCC (Gulf Cooperation Council) countries.

Foreign investors can contact our accounting firm in Dubai for support and guidelines in tax matters or for accounting services.