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SFM Blog
VAT in the UAE
As announced in February 2016 by the UAE Minister of State for Financial Affairs, His Excellency Obaid Humaid Al Tayer, the UAE will introduce a Value Added Tax (VAT) of 5% beginning January 1, 2018. The six other states that make up the Gulf Cooperation Council (GCC) region will also be implementing a VAT during this time and/or by January 1, 2019 at the latest [...]
Continue readingUAE Free Zones – The Key for Fulfilling Economic Substance Requirement
Incorporating in the UAE offers the leverage to foreign businesses to keep up with the requirements of tax authorities for economic substance through its free zone (FZ) structures. Businesses of any size can now take the opportunity to locate their business functions in the UAE and benefit from substantial tax savings, while satisfying the criteria for economic substance. [...]
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