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Approval of executive regulations of Federal Law No.8 of 2017 on Value Added Tax (VAT).

MAC N ROSS > Value Added Tax In GCC  > Approval of executive regulations of Federal Law No.8 of 2017 on Value Added Tax (VAT).

Approval of executive regulations of Federal Law No.8 of 2017 on Value Added Tax (VAT).

His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, has approved the executive regulations of Federal Law No.8 of 2017 on Value Added Tax (VAT).

The bylaws govern the implementation of VAT, which will come into effect from January 2018

The regulations define VAT as the 5 per cent tax imposed on the import and supply of goods and services at each stage of production and distribution, including what is a deemed supply, with the exception of specific supplies subject to the zero rate and what is exempted as specified in the law.

Source: Gulf News Dt 28th November, 2017

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