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.
Click to access 2015G_CM5575_Update%20on%20the%20proposed%20introduction%20of%20corporate%20taxation%20in%20the%20UAE.pdf
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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