Tax & VAT Consultancy

  VAT For Designated Zone The federal Tax Authority of UAE is the central authority of taxes. The value added tax was introduced in the UAE on the first January 2018. The rate is 5%. Vat is the new source of income for the UAE.As a general consumption tax on the supply of goods and services. It applies to those supplies which take place within the territorial area of the UAE. The designated zone which is known a free zone as well’ is nominated for VAT purposes. The free zone has been excluded from the territorial scope of the UAE for VAT purposes. Only those zones have been listed in a cabinet decision qualify for special VAT treatment has certain limitations. Designated Zones are as under 1.       Subject to strict control criteria. 2.       Required to have security procedures in place to control the movement of goods and people to and from the designated zone. 3.       Required to have customs procedures to control the movement of goods into and out of the designated zone

Value added tax (Vat)In UAE Vat stands for value added tax was introduce in the UAE on 1 st January 2018.vat is based on the value of goods and services. Vat is also known as goods or services tax. Vat is indirect tax while (GST) general sales tax is direct tax collected only once paid by the consumers. Vat is the consumption tax placed on the products whenever value is added at each stage of the supply chain from the production to the point of sale. GTS or vat is the major revenue of the state.it is vary from country to country. Vat rate of the UAE is 5%.Tax is the major source of revenue by which a government raise revenue to pay for public services such as amenities education sector, health, defense and infrastructure etc. Excise Tax The UAE system is very strong and stern. There is another tax levied by UAE government i.e. Excise tax it is also main source of revenue. This tax has been imposed in 2017.it is indirect tax imposed on such goods that dream to be harmful to the