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The United Arab Emirates (UAE) and Saudi Arabia (KSA) are off to a strong start with value added tax (VAT) introduced in the GCC member states on 1 January 2018, and the first VAT returns filed on 28 February 2018. Businesses have started to adapt to the realities of conducting operations within the new VAT regime and to manage the inevitable challenges arising in the first phase of implementation.

Further to Baker McKenzie Habib Al Mulla’s recent workshops in Dubai and Abu Dhabi in March 2018 focusing on the practical consequences of VAT and managing the challenges, please find below the high level summaries of:

•   the key emerging issues businesses are facing, across all sectors;
•   key challenges arising in the Financial Services sector, and
•   key challenges arising in the Energy & Infrastructure sector.

 

 

 

 

 

You can also visit our dedicated GCC VAT website to view these and other materials, podcasts and further updates as developments occur: http://www.bakermckenzie.com/en/insight/publications/2017/10/doing-business-gulf-vat-regime

If you have any queries, please feel free to contact one of the specialists below.

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