Forbes Middle East : What you need to know about VAT in the UAE by Mr. Alain Zahlan de Cayetti

What you need to know about VAT in the UAE
The UAE is three months away from the implementation of the Value Added Tax (VAT) and many of us are still wondering how the new tax will affect our businesses and daily lives. VAT is supposed to be an indirect tax, which some would say is painless. Business owners will need to invest time and money in order to familiarize themselves with the concept of VAT including tax returns, tax audits, tax provisions in contracts and invoices and new cash flow management, just to name a few. Rather than burying one’s head in the sand, it is vital to research and understand how to navigate this unknown territory. Based on my international experience on VAT, I have broken down some of the key elements that need to be considered by every business operating in the UAE.
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