“FAQs” are designed to inform readers about the progress of the VAT system
May 2016/e: UAE Ministry of Finance publishes new VAT
On 3 May 2016, the United Arab Emirates Ministry of Finance published new VAT information on its website. The new content is in the format of frequently asked questions (FAQs) and is designed to inform readers about the progress of the introduction of the VAT system.
Of particular note are the following points:
- The VAT system is intended to come into effect on 1 January 2018.
- The standard VAT rate is expected to be set relatively low, at 5%.
The full item can be accessed here