Strategizing International Tax Best Practices – by Keith Brockman

UAE: Tax system on the horizon?

July 8, 2015

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.

http://www.ey.com/Publication/vwLUAssets/Update_on_the_proposed_introduction_of_corporate_taxation_in_the_UAE/$FILE/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.

 

Category:

Tax Risk Management

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