This week the spotlight is on VAT developments in the UAE, where the country’s Cabinet has approved the Implementing Regulations to the Federal VAT Law, Federal Decree-Law No. 8/2017. Cabinet Decision No. 52/2017 is yet to be Gazetted but its priority translation has been requested from our Publishing Partners, SADER Legal Publishing.
In a separate but related development, the Director General of the UAE’s Federal Tax Authority, Khaled Al Bustani has said the introduction of VAT in the country will not be delayed, despite calls from prominent organisations like the UAE Banks Federation for it to be to allow them more time to prepare. VAT will be introduced in the UAE on 1 January 2018. Al Bustani added the Authority is seeing a surge in registrations as the registration deadline looms.