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GCC nations look to adopt VAT ‘within a year’

February 13, 2017

Policymakers in the six-nation Gulf Cooperation Council are aiming to introduce a five percent value-added tax at the start of next year, despite administrative and technical obstacles, a senior United Arab Emirates finance official said on Sunday. The GCC, its finances strained by low oil prices, has long planned to adopt the tax in 2018… Read more

VAT deadline

September 14, 2016

Reminding you of the VAT Refund Applications (EU countries) on the 30.09.2017! Need help with this or do you have questions regarding VAT issues? Contact our VAT team at Vathub; Our staff consists of tax lawyers, auditors, analysts and experts on complex VAT legislation. We can offer consultation, training and ongoing VAT services. We… Read more

VAT sops after GST: State may make budget provisions

September 1, 2016

AHMEDABAD : With Value Added Tax (VAT) set to be subsumed into Goods and Services Tax (GST), Gujarat government is mulling over making budgetary provisions to honour incentives extended in the form of VAT refunds after GST is implemented. Many government departments such as industries and mines, agriculture and co-operatives as well as science and… Read more

What the VAT implementation in Egypt means for you

August 31, 2016

On Monday, the House of Representatives passed the proposed value-added tax legislation. The only amendment to the draft legislation was proposed Sunday by the Finance Ministry, which was to reduce the rate to 13% in the first year of implementation, whereby the rate will increase to 14% from 2017. The parliament also increased penalties for… Read more

Government committed to 14% VAT, parliament will understand: Prime Minister

August 18, 2016

Prime Minister Sherif Ismail on Wednesday said the purpose of the value-added tax (VAT) is to obtain more revenues for the state, estimated at around EGP 32bn. This figure will be directed towards social security and support of low-income citizens, the prime minister explained. “Egypt’s rich are able to provide their needs easily,” he said…. Read more