The introduction of Value Added Tax (VAT) has significantly impacted businesses in the UAE. Came into effect on 1st January 2018, VAT has become a new source of revenue for the government apart from streamlining the economy. The UAE has one of the lowest VAT rates in the region at the standard rate of 5%. However, businesses should be aware of different VAT rates applicable to specific circumstances such as the export of services, for which tax agents in Dubai can help you.
Source: jcauaeaudit.com
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