Value Added Tax (VAT) in the UAE is a consumption tax levied on goods and services at each stage of the supply chain. Introduced in 2018, VAT is set at a standard rate of 5%. It applies to a wide range of products and services, including but not limited to, retail, hospitality, and professional services. VAT registration is mandatory for businesses meeting certain criteria, and compliance with VAT regulations is essential to avoid penalties. At Highmark Accountants, we offer expert guidance and support to ensure VAT compliance.
https://highmarkaccountants.com/vat/
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