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Tag Archives: VAT

‘Exempt poultry industry from 5 percent Vat’

Dhaka, June 19 – The leaders of the Feed Industries Association Bangladesh (FIAB) and Breeders Association of Bangladesh (BAB) have urged the government to exempt the poultry industry a 5 per cent Advance Tax (AT) and 5 per cent Advance Income Tax (AIT) on all import of essential raw material of poultry feed, so that it can maintain a competitive ... Read More »

UAE Cabinet approves VAT refund for tourists

Tourists visiting the UAE will be provided with a refund system for value-added tax (VAT), it was announced on recently. The UAE Cabinet has adopted a decision to implement the new system, which will be integrated between retail outlets with tax refund points, official news agency WAM reported. “The system will be implemented from the fourth quarter of 2018 in ... Read More »

UAE to distribute 70pc of VAT revenue to local governments

The UAE is set to distribute 70 per cent of value added tax revenues to local governments, the country’s prime minister has announced. Sheikh Mohammed Bin Rashid Al Maktoum, who is also the vice president of the UAE and ruler of Dubai, disclosed the decision in a tweet following a cabinet meeting. He said the distribution of the funds was ... Read More »

UAE implementing 5pc value added tax on Jan 1

The UAE’s Federal Tax Authority has announced a final list of products and services that will be subject to an impending 5 per cent value added tax rate on January 1. Other select goods and services will be zero-rated or exempt from the tax in areas including education, healthcare, oil and gas, transport and real estate. Certain government and non-profit ... Read More »