Crystal Clear Consultant

Value Added Tax (VAT) is a tax on consumption and it applies to almost all goods and services. As most of the management of the companies might be aware of the fact that as part of diversifying the economy and revenue generation, the GCC governments have decided to adopt Value Added Tax (VAT). UAE is also going to adopt VAT which applies to almost all goods and services except basic food items, healthcare, and education. Though the burden normally lies on the ultimate consumer the business entities need to change the systems, processes, and procedures to comply the new legal requirement which is expected to be implemented by the government effective from 1st Jan 2018.