That’s VAT! – An update on VAT in the U.A.E.
The Ministry of Finance has reaffirmed its intention to introduce Value Added Tax (“VAT”) from 1 January 2018. Whilst we continue to wait for the release of the source legislation before advising and implementing systems changes for our clients (we do not expect this to be released for a few months yet), we understand that time is ticking and believe that it may be appropriate for you and your businesses to start preparing for VAT now.
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Rajiv Saxena Founder and Managing Partner at UHY Saxena, one of the speaker for the S2 Syndrome Sustainability and Succession Conference held at Atlantis Ballroom, Atlantis the Palm, May 31 2016
How will you grow the business?
Is your enterprise model sustainable?
How do you put a succession plan in a place?
Do you know how to diversify and minimize risk?
The core agendas of the S2 Syndrome include:
Expanding the core and building new market penetration
How to build a practical and effective business structure
Aligning the vision-creating inter-generation harmony
Knowing the numbers-implementing rigorous accounting standards
Growth strategies to build the Family brand
The quest for longevility
The keys to successful business diversification
The role of Emiratisation and employment demographics
Maintaining family values in growing business- the role of site-to-site transition
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UHY Member Firms around the world have contributed to the 2012 edition of the UHY Global Tax Outlook. “Compared to last year, there appears to be more emphasis on maintaining the status quo as many countries continue to deal with difficult economic times,” said John Wolfgang, Chairman of UHY. Countries such as Japan and Chile, which experienced severe earthquakes in 2011, have increased taxes to fund rebuilding of infrastructure. Some countries have emphasized the environment, introducing incentives to promote investment in green technology or a carbon tax to discourage use of fossil fuels. “Overall, the trend continues for slight reductions in corporate income tax rates and slight increases in rates of value added tax,” concluded Wolfgang.
