What does the introduction of Value Added Tax mean for Dubai?
The introduction of a Value Added Tax (VAT) regime in Dubai (the UAE) marks the beginning of a new era in the history of the UAE economy where the general public will start sharing the burden of budgetary expenditure, starting January 1, 2018.
Treaty between UK & UAE
Those in the UK, who have invested in the commercial property in UAE, shall seek a bespoke tax advice in order to meet their online filing and payment requirements. The UK UAE tax treaty has effect for the 2017/18 tax year onwards. With respect to business profits (such as those of the LLP) it says that profits of an enterprise of a contracting state are taxable only in that state unless the enterprise has a permanent establishment (PE) in the other state, in which case the profits attributable to the overseas PE may be taxed in the other state (here the UAE).