Vat review in UAE
Value-Added Tax (VAT) in the United Arab Emirates (UAE) was introduced on January 1, 2018, at a standard rate of 5%, one of the lowest in the world. The VAT review in the UAE is based on a destination principle, meaning goods and services are taxed in the country where they are consumed. This indirect tax is levied at each stage in the supply chain, from manufacturer to retailer, on most goods and services, except for some exempt and zero-rated items. Exemptions often include certain financial services, residential properties, and local transport, while zero-rated items typically cover certain
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