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UAE outlines VAT threshold for Firms in Phase 1
*Registration mandatory for companies whose annual revenues exceed Dh3.75m while it is optional for those whose revenues range between Dh1.87m and Dh3.75m*
Companies in the UAE that record annual revenues over Dh3.75 million will be obliged to register under a Value Added Tax (VAT) system, and will accordingly be taxed, according to the country’s Ministry of Finance.
Companies whose revenues range between Dh1.87 million and Dh3.75 million will have an option to either register under the system or not during the first phase of rolling out the system.
It will eventually become obligatory for all companies to register under the VAT system when it is rolled out in Phase 2, but that the ministry is still discussing a date for that.
*The tax will not be applied on certain industries like education and health care.
Staple food items would also be exempted from VAT.
The decision to introduce the tax comes after various organizations and economists, including the International Monetary Fund (IMF), recommended that GCC countries roll out the tax as a means of generating more government revenues.
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We will provide our experienced consultant to you daily, weekly and monthly basis to the companies those can’t afford permanent employee.
Candidates no need to apply, only company can apply for the Services.
For more information kindly contact on the no.050 9599471.
Job Type: Part-time
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