06 May 2016 UAE Ministry of Finance publishes Gulf Cooperation Council VAT Q&A The United Arab Emirates (UAE) Ministry of Finance recently published on its website new information on the Gulf Cooperation Council (GCC) Value Added Tax (VAT) in a question-and-answer (Q&A) format. The Q&A's start with general questions as to what VAT is and why the UAE would choose to implement such tax, giving readers a backdrop to this GCC-wide development. The Q&A's communication also includes a simple illustration as to how VAT works (i.e., how is VAT collected in a supply chain and how the end-use consumer ultimately shoulders the tax burden in general). Document ID: 2016-0822 |
