VAT Explanation Download Article

VAT is adopted by around 150 Countries in the World and is the main consumption tax system worldwide •USA is the only developed nation without a Federal VAT •VAT is an indirect tax, imposed on most supplies of goods and services that are bought and sold. •The Economic Agreement between GCC States and the GCC Customs Union have agreed for the implementation of VAT. In UAE it will start on January 1, 2018.

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