Quantcast
Tuesday , October 17 2017
Breaking News
Home / International Customs / UAE begins registering taxpayers for VAT
UAE begins registering taxpayers for VAT

UAE begins registering taxpayers for VAT

DUBAI: The United Arab Emirates Federal Tax Authority on September 17, 2017, opened its online portal for businesses to register for value-added tax. The UAE is to introduce value-added tax from January 1, 2018, at a five percent rate.

Businesses are required to register to collect and remit value-added tax if at any time during the past twelve months the value of their taxable supplies exceeded the mandatory registration threshold of AED375,000 (USD102,000), or if the entity anticipates that they will exceed the threshold within the next 30 days. Taxpayers can register voluntarily if the total value of their taxable supplies exceeded AED187,500, or if the business expects to exceed that threshold within the next 30 days.