Monday 19 February 2018
 
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VAT

KPMG helps Saudi companies reduce impact of tax errors

KPMG, a leading accounting and consulting firm in Saudi Arabia, has identified clear cases where VAT registered businesses in the Saudi market could make a mistake in their VAT filing due to lack of accuracy of invoices or clarity of records and

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UAE businesses ‘back to normal after VAT roll-out’

While the first week of VAT in the UAE saw a slump for several businesses, the following weeks saw the businesses come back to normal, said an industry expert. Introduction of VAT certainly created a stir in the country, but in it

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VAT impact on UAE workforce seen minimal

While most companies in the UAE will not take any specific measures to compensate against the introduction of VAT, a new study shows that VAT will only have a minimal effect on people’s buying power. Mercer, a global consult

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UAE non-oil output growth continues in January

UAE non-oil companies recorded improved economic conditions resulting in further gains in output and new orders at the start of 2018, said Emirates NBD in its latest UAE PMI survey.  Employment was raised at the strongest pac

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UAE least affected globally by imposing VAT: study

The UAE is the least affected globally and regionally when it comes to imposing value-added tax (VAT) on business sectors, which makes its investment environment constantly competitive for all sectors, a report said. The recent st

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UAE consumer goods sector grows 37pc in Q4

The UAE consumer goods industry, which includes FMCG, home appliances,  textiles, leather and jewellery grew by 37 per cent in Q4 2017, compared to the same period last year, as residents prepared for the implementation of VAT.

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Ajman DED holds VAT awareness campaign

The Department of Economic Development – Ajman (DED-Ajman) recently organised an awareness campaign for outlets in shopping malls which was aimed raising awareness of commercial enterprises about the application of value-added tax (VAT).

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UAE construction expert warns of VAT cashflow issues

Proactive measures should be taken to help protect suppliers from cashflow issues as a result of the introduction of VAT (value-added tax) this year, warned a leading UAE-based construction industry expert. “The construction

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GCC business confidence ‘stable with VAT roll-out’

Confidence in the Middle East is stable, even with the adoption of VAT in the GCC, according to the latest edition of the Global Economic Conditions Survey (GECS) released today (January 25).   The quarterly survey of global

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‘Vital for Bahrain firms to assess VAT impact’

It is vital that organizations in Bahrain evaluate the impact of value-added tax (VAT) on their operations and take measures to ensure a smooth roll-into VAT throughout the whole services’ supply chain, said an industry expert.

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