Real estate is an important part of the Gulf economy. Construction fever in the United Arab Emirates is high, especially in Dubai as it prepares for the Expo 2020. The complexities of VAT hit especially the real estate sector.
The implementation of VAT will be adding an additional layer of complexity to businesses active in the logistics and distribution sector.
Over the past decades, the international trade environment has been characterized by a rapidly increasing complexity, both with respect to the business setup and supply chains as to the regulatory environment and safety requirements
On 1 August 2017, the United Arab Emirates published its Federal Tax Procedures Law. The Law constitutes the procedural framework for administering VAT, Excise and possible other future taxes by the Federal Tax Authority.
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