March 2017/23: Ministry of Finance launches VAT and Excise awareness sessions
Another step closer to VAT implementation
On 21 March 2017, the Ministry of Finance (MOF) in the United Arab Emirates (UAE) launched a series of VAT and excise awareness sessions to present to advisors and businesses on the progress of VAT and excise tax implementation. The first session is aimed at the advisory community, followed by later sessions aimed at the general business community.
In the first session, the MOF provided details about the content of the VAT treaty, and some further details on the VAT policy choices available to the UAE. It also revealed some key decisions already taken by the UAE, including the treatment of certain key industry sectors and special rules such as VAT grouping.
The MOF will hold this seminar throughout the UAE, particularly in Sharjah, Ajman, Fujairah, Ras Al Khaimah, Abu Dhabi and Al Ain. The sessions are an important step towards the implementation of VAT and excise tax, and will provide businesses with information to continue their planning process for the new taxes.
Our document, “The introduction of VAT in the UAE,” provides more detail about the discussion.
Full details of the sessions, as well as registration details, can be found on the MOF website.