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8 HORRIBLE MISTAKES YOU’RE MAKING WITH VAT

8 HORRIBLE MISTAKES YOU’RE MAKING WITH VAT

Submitted by • July 19, 2020 www.xb4.ae

Businesses operating in the UAE have been challenged in matters related to the indirect tax compliance since 2018; the year VAT was introduced in the UAE and Saudi Arabia. Many unfortunate companies have found themselves in deep trouble after unconsciously making mistakes and misunderstanding the VAT implications on their businesses.

Government authorities mandate companies in the country to comply with tax regulations fully. The Federal Tax Authority, FTA, imposes hefty amounts of penalties on account of non-compliance on the companies’ part.

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