The UAE ministry of finance announced amendments to certain provisions of the UAE VAT (value added tax) regime. The changes will come into force on January 1, 2023.
A total of 24 changes were introduced by Federal Decree-Law No. 18 that of 2022 on the Amendment of Some Provisions of the Federal Decree-Law No. 8 of 2017 on VAT, and one article was added in respect of the statute of limitation to the UAE VAT Law.
Here are some of the most significant changes in VAT registration UAE
Information on the new article on the statute of limitations (Article 79 bis)
VAT was introduced in the UAE (United Arab Emirates) on January 1, 2018. The general VAT rate in the UAE is 5% and applies to most goods and services. There are some goods and services subject to a 0% rate or an exemption from VAT.
Simon Gordan, Managing Director of Sovereign Corporate Services in Dubai, said that these amendments to the VAT legislation are considered another positive step for the UAE and demonstrate that the country is keeping pace with the changing global economy.
These are the VAT changes that will come into effect on January 1, 2023, which also affect UAE tax. In addition to that, UAE is set to introduce a 9% federal corporate tax on business profits from the next financial year, starting on June 1, 2023.
05-14-2025
For US companies, managing accounting activities in the UAE poses a set of challenges. There is a great chance of…
04-25-2025
For many years, international companies looking to expand in the Middle East have found the UAE to be an attractive…
04-15-2025
Managing cash flow is crucial for business stability and expansion in the fast-paced business world of today, particularly in dynamic…
04-02-2025
With a complete focus on sustainability, economic diversification, and local value creation, the UAE's economy is evolving quickly. The In-Country…
02-14-2025
The UAE has emerged as a top choice for American companies seeking to grow globally. The UAE presents unmatched growth…