Tax avoidance and profit shifting have resulted in an estimated annual loss of USD 100 to 240 billion of tax revenue worldwide, effectively 4-10% of global corporate tax revenue.

Confirming their role as pioneers in building a sophisticated and efficient tax network, the UAE and Bahrain took strong steps forward to join international efforts against base erosion and profit shifting practices (known as BEPS).

Jewelry executives in the United Arab Emirates hope their industry will recover from plummeting sales, helped by a partial government U-turn involving value-added tax on businesses that account for about a quarter of all Dubai's non-oil foreign trade.

On 9 January 2018, the FTA has published two long awaited documents on its website. These documents are cabinet decisions determining the so-called Designated Zones and the medical supplies subject to a zero rate for VAT purposes.

Dubai's status as a world trading hub for gold and diamonds could be threatened by the introduction of VAT in January 2018, industry leaders warned in the first high-profile protest against

In this article, the authors examine the process of implementing the Gulf Cooperation Council’s Common VAT Agreement and look at the efforts by Saudi Arabia and the United Arab Emirates to introduce their VAT legislation on January 1, 2018.

The UAE is a regional finance hub with global aspirations. Many international banks are licensed in the UAE and the local and regional banks are very dynamic. Dubai's DIFC and Abu Dhabi's ADGM are important financial centres.

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Dubai's status as a world trading hub for gold and diamonds could be threatened by the introduction of VAT in January 2018, industry leaders warned in the first high-profile protest against

On 4 October 2017, the European Commission has set out how it proposes to reform VAT in the EU (https://ec.europa.eu/taxation_customs/business/vat/action-plan-vat/single-vat-area_en). These proposed changes should enter into force in 2022 and are amongst others aimed at tackling cross-border VAT fraud.