UAE VAT law: 5 new changes in 2023
Starting on January 1, 2023, the UAE will impose changes in its Value Added Tax (VAT) laws and tax procedures that are expected to have a significant impact on businesses.
Since 2018, the UAE introduced 5 percent VAT on most goods and services. The tax is levied at the point of sale.
5 new changes in 2023
- Reduced tax fines
- 14-day time limit for claims
- Issuing tax invoices without due VAT
- VAT invoices for importation
- Mandatory disclosure
Source: expatmedia.net
