Thursday 22 February 2018
 
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tax

KPMG helps Saudi companies reduce impact of tax errors

KPMG, a leading accounting and consulting firm in Saudi Arabia, has identified clear cases where VAT registered businesses in the Saudi market could make a mistake in their VAT filing due to lack of accuracy of invoices or clarity of records and

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UAE construction expert warns of VAT cashflow issues

Proactive measures should be taken to help protect suppliers from cashflow issues as a result of the introduction of VAT (value-added tax) this year, warned a leading UAE-based construction industry expert. “The construction

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GCC landowners 'must unearth value from dormant land'

Traditionally in the GCC, owning large pieces of land has been a means of safeguarding wealth for both governments and the private sector. However, these lands often lie dormant and unexploited, said a report. According to managem

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Registration for VAT continues says UAE authority

The UAE Federal Tax Authority (FTA) has urged the business sector to complete the registration requirements for Value Added Tax (VAT) purposes, commending the commitment and high turnout in the registration process.  

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UAE, Saudi Arabia kick off new era with VAT roll-out

The United Arab Emirates and Saudi Arabia have stepped into a new era with the introduction of 5 per cent value-added tax (VAT) on the majority of goods and services beginning today (January 1). The tax is imposed by Saudi Arabia and th

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Contractors 'must add VAT on Saudi government deals'

All companies that are working on contracts with government departments in Saudi Arabia need to modify their bills to include the five per cent VAT (value-added tax), said a report citing a senior official. The investors in the co

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Oman to delay VAT implementation to 2019

Oman will delay the implementation of Value Added Tax (VAT) in the sultanate to 2019, the Ministry of Finance has been quoted as saying.    The application of selective tax on tobacco, energy and carbonated

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Baker McKenzie workshop on VAT in the GCC

Baker McKenzie, a leading global law firm, recently hosted workshops in Dubai and Abu Dhabi on doing deals and conducting business in the Gulf region in the new value added tax (VAT) regime. With Saudi Arabia and the UAE introduci

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Saudi businesses urged to register for VAT

Saudi Arabia’s General Authority of Zakat and Tax (GAZT) has urged businesses with annual revenues over SR1 million ($266,300) to expedite their VAT registration process and ensure their readiness for its implementation. The

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Abu Dhabi hosts key workshop on VAT regulations

The Department of Finance (DoF) – Abu Dhabi recently held a workshop to discuss the latest developments on financial systems and regulations related to government procurement frameworks, and introduce different government entities to the u

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