VAT went into effect on the 1st of January… What now?

The Value Added Tax (VAT) went into effect on the 1st January with a 5% VAT applying on the sale and purchase of most goods and services in the United Arab Emirates. This represents a major transformation for b...

Excise tax law and VAT in the UAE

After KSA, UAE is the second Gulf country to publish the law on Excise taxes. Excise goods affected by this law include tobacco, energy drinks, and carbonated drinks. The excise tax rates to be imposed are 100% on tobacco products and energy drinks, and 50% on...

Excise Taxes in Saudi Arabia

The GCC framework agreement for Excise Taxes was signed by all six GCC countries. Following the agreement, the Government of Saudi Arabia approved the Excise Tax law, issued by a royal decree on the 23rd of May...