What are the major differences between VAT and sales tax?

When you are the owner of any business, then you have to go through a lot of logistics and legalities to make it sound and sturdy. Often private business owners are liable to pay taxes to the government, but there are different types and names of the taxes, which make it a bit confusing for the consumers and sellers to understand. If you are in … Continue reading What are the major differences between VAT and sales tax?

Difference between Zero-Rated and Exempted VAT in UAE

The tax is a term which is used to describe the amount of money paid to the government by the companies. Different countries have different methods to ensure that tax is being paid but what is essential to understand that there are different types of taxes implemented in the systems. Recently there have been changes in the way businesses operate in the Gulf region because … Continue reading Difference between Zero-Rated and Exempted VAT in UAE

Your Comprehensive Guide to Value Added Tax in the UAE

All Gulf Cooperation Countries are required to impose Value Added Tax (VAT) to diversify their economies on modern footings. As a response, KSA and UAE have recently implemented VAT on different goods and services. Besides the individual, almost all business organizations need to comply with VAT laws. It is important to note that the Federal Tax Authority of UAE has given the business companies a … Continue reading Your Comprehensive Guide to Value Added Tax in the UAE