COMPANIES MAY STRUGGLE TO FILE ACCURATE VAT RETURNS, EXPERTS SAY:
Chartered House specializes in financial audit, tax consultancy, VAT filing and business advisory services. Chartered House, has worked across business functions in over 20 industries with hands-on experience of tax enablement across UAE and Saudi. Our solutions enable customers to improve their compliance and create sustainable value for their stakeholders.
The UAE, along with Saudi Arabia, are the first two GCC states to implement a five per cent VAT as part of reforms aimed at shoring up government revenue hurt by low oil prices. In the UAE, VAT is expected to yield Dh12 billion in 2018 and Dh20bn in the second year of implementation, according to government officials. The levy, however, is expected to increase consumer prices by about 1.4 per cent, officials have said.
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