Strategizing International Tax Best Practices – by Keith Brockman

Posts tagged ‘India VAT’

VAT: GCC/UAE/India’s new rules

As UAE’s (and some other GCC States)┬áVAT regime, effective 1/1/2018, becomes closer, it is clear that ┬ámultinationals (MNEs) need to prepare now re: VAT assessments, information required, system review, etc. to plan effectively for this new indirect tax.

Additionally, India’s new scheme also is in effect starting this year, and a similar exercise should be conducted re: operations conducted in India.

As VAT is an indirect tax, all MNE’s should ensure such local filings are coordinated with regional / global compliance governance controls.

EY’s Global Tax Alert provides additional details re: the GCC’s upcoming rules.

http://www.ey.com/Publication/vwLUAssets/UAE_Ministry_of_Finance_presents_key_information_in_relation_to_proposed_VAT_regime/$FILE/2017G_01345-171Gbl_Indirect_UAE%20MoF%20presents%20key%20information%20in%20relation%20to%20proposed%20VAT%20regime.pdf

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