When was the New Tax Law started in UAE?
The United Arab Emirates, introduced VAT (Value Added Tax) on January 1, 2018.
VAT stands for Value Added Tax. It is levied when goods and services are being sold, compensating the federal government for spending on infrastructure. It fosters competition, efficiency, or import substitution to support an income stream.
Also Read,
- What is VAT rate in Northern Emirates?
- Zero Tax Category in the UAE
- Tax in other countries
- VAT in GCC countries
- How VAT is calculated?
- What about VAT paid to my suppliers?
- Exempted Categories of goods and services
When was the New Tax Law started in UAE?