In an increasingly demanding global environment, managing tax responsibilities and planning for tax issues is becoming more complex. With consulting, technology, and outsourcing experience, Swift helps businesses meet the challenges of multi-jurisdictional tax operations, including compliance, reporting, and risk management for direct and indirect taxes. Our Tax management team takes an integrated and holistic approach to help tax and accounts departments create value for their organization.
On 23 August 2017, the UAE published Federal Decree-Law No. 8 of 2017 on Value Added Tax (“VAT Law”) which comes into effect on 1 January 2018 and sets out the framework within which VAT will be levied in the UAE. VAT will apply on the supply of goods and services in the UAE (including imports) by a taxable person for consideration and during the course of business, except on the exempt goods and services as specified under the UAE VAT Law. VAT implemented with a standard rate of 5% on any supply or import of goods or services.