EY’s Alert provides an update on discussions being held in the UAE.
A corporate tax law has been drafted and a common value added tax (VAT) law framework for Gulf Cooperation Council (GCC) countries has also been drafted. These discussions are now in an advanced stage, although implementation of a tax would take additional time to implement.
In efforts to provide financial sustainability, this initiative should be closely followed to plan for the potential impact in the UAE and the Region.
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