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Tag Archives: VAT

Don’t hike fees due to VAT, UAE banks told

Central bank tells financial companies that they will absorb applicable VAT until further instructions UAE – The Central Bank of the UAE has asked local banks not to increase the existing fees for customers due to the upcoming value added tax (VAT). “Banks and finance companies will not be permitted to exceed the fees structure for individual customers because of …

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Career in UAE: Will your pay hike beat VAT?

Salary increases in 2018 will be based on skills shortages and performance As the New Year approaches, employees generally look forward to pay raise and bonuses, hoping that their efforts will be rewarded through monetary benefits. But that is not the case all the time. With some sectors growing faster than others, the chances for increment and job opportunities are …

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VAT introduction in Gulf by 2018 to significantly impact operations- Deloitte

Deloitte holds annual seminar in Saudi Arabia on income tax and zakat updates. Deloitte recently hosted business leaders in its annual seminar on global and Saudi Arabian tax and zakat updates impacting businesses in Saudi Arabian. The seminar ran in Riyadh Jeddah and Al-Khobar, and aimed at sharing and discussing in depth the tax landscape shaping the current and future …

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Who will feel VAT’s biggest pinch in the UAE?

Value added tax is coming to the UAE. Is the country prepared for it? With the implementation of value added tax (VAT) in early 2018 in the UAE now a certainty, there is growing apprehension in the market – from businesses and consumers alike – about how the new regime will impact them. Details about the tax are yet to …

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AAT posts higher enrollees in Accounting Qualifications in 2016 to prepare for upcoming VAT imposition in Gulf

UAE – In the wake of the impending imposition of value-added tax (VAT) in the GCC, the Association of Accounting Technicians (AAT), a globally recognized player in the accounting and finance sector, has announced an uptake in the number of students taking its Accounting Qualifications in the region. Providing training for a huge range of accounting and finance roles, the …

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Introduction of VAT set to be a ‘challenging and exciting time for the region’ says ACCA Middle East

Business leaders from across Oman gathered together at an ACCA event this week (24 October) to discuss the impending introduction of VAT (Value Added Tax) across the region. VAT will be implemented in Oman and several other Gulf Cooperation Council (GCC) member countries from 1 January 2018. Ashok Hariharan, Partner & Head of Tax at KPMG was one of several …

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