The UAE released its domestic VAT Law on 27 August, 2017 which has confirmed the standard rate of VAT at 5%, which will be imposed on goods and services that are not otherwise zero-rated or exempt.
The implementing regulations which governs the law is expected imminently. Both the law and its regulation will need to be reviewed in correlation in order to fully appreciate the impact of VAT on businesses.
This summary aims to provide the key take-away's from the law.
To view the summary, please click here and to discuss how this impacts your business, please .