About UAE VAT

Shuraatax26 Jul, 2023Business

The UAE VAT (Value Added Tax) is a general consumption tax applied to the majority of transactions in goods and services. It was introduced in the UAE with a rate of 5%, which was to be imposed on tax-registered businesses on a taxable supply of goods or services at each step of the supply chain. Consumers bear this tax by purchasing taxable goods and services and businesses collect the amount on behalf of the government.