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VAT Calculator Online UK / UAE

What is a Value-Added Tax - VAT
A value-added tax (VAT) is a type of consumption tax that is placed on a product whenever value is added at a stage of production and at the point of retail sale. The amount of VAT that the user pays is on the cost of the product, less any of the costs of materials used in the product that have already been taxed.

More than 160 countries around the world use value-added taxation; it is most common in the European Union. But it is not without controversy. Advocates say it raises government revenues without punishing success or wealth, as income taxes do; it is also simpler and more standardized than a traditional sales tax, and there are fewer compliance issues. Critics charge that a VAT is essentially a regressive tax that places an increased economic strain on lower-income taxpayers, and also adds bureaucratic burdens for businesses.


Looking to relocate to Dubai from the UK

My girlfriend is moving to Dubai for a teaching position at the end of the summer, and I am obviously looking to relocate alongside her.</p> <p>I work in taxation, although indirect tax which doesnt exist in Dubai (but is being talked about I think?), and so I am having some issues in finding a like for like job. What types of MNCs have big centres of operation in Dubai (or surrounding areas like Sharjah and Abu Dhabi - I am more than willing to commute!) and are any of you able to give me details of any finance/accounting/tax recruitment consultants based in the UAE?</p> <p>Thanks in advance to anyone who can help.

Posted 12 February, 2018

Stores are using VAT as an excuse to hike prices? 3 days in and the new tax is already a mess

I just came back from Dubai Mall, and would like to report on some of my findings.

Most shops have updated all their in-store prices instead of adding a tax price on the final bill. And in every case, the price increases are significantly more than 5%. This is very obvious in electronics stores, such as Virgin Megastore and Sharaf DG. One example: Most triple-A PS4/Xbox One games were 269 Dhs before January, now they are 299 Dhs. Almost a 10% mark up. Shocking. I checked the price of the other electronics, and the mark up was the same there too.

Why is this allowed? In every other country that charges taxes, it's usually a flat rate added at the end of the bill. So far, the only shops doing flat rates in Dubai are restaurants and supermarkets.

Posted 8 February, 2018

How are "Assigned Zones" described in the new VAT law?

An "Assigned zone" is described as a free zone in the new VAT law. It might be the place the items are secured or any such space as thought about fit by the Cabinet Decision. No VAT is requested to the items kept in the relegated zone, and the import to and exchange from the allocated zone isn't under VAT either. In any case, the stock enter the chain of creation and use the moment they are removed from the doled out zone, and 5% VAT is required on them if they fall under the grouping of assessable things in Federal Decree Law no. (8) Of 2017.

Posted 21 October, 2018

Are post-paid telephone charges in UAE going to be influenced by VAT?

Yes, they are. Availing any governmental service is charged with VAT.

Posted 21 October, 2018

Mutual funds investment with NBD bank

Very limited knowledge when it comes to investment (first time to have little extra money that I want to invest), unfortunately investing back home isn’t an option not even having a bank account. I was looking into BeeHive and now I noticed that Enbd provides Mutual Funds investment option, has anyone tried it? Any thoughts in general about other investment options here?

Posted 21 March, 2018

Are there any special cases in VAT within UAE?

Authoritatively truly, in the wake of driving the VAT in UAE most of thing is non-under and barred the VAT. Despite whether the expenses of a couple of things or organizations change after VAT use. There are various thing under the VAT.

Posted 21 October, 2018

What administrations are in extent of VAT?

The standard VAT rate of 5% has been concurred by all Member States of the GCC, and will be connected on merchandise and ventures (e.g. nourishment, counseling administrations, support works and so forth.) that are not VAT excluded or zero-appraised. The Federal VAT Law subjects various particular exchanges to the zero rate or assigns them as excluded from VAT, which means VAT won't be represented on these provisions. Organizations are encouraged to contact their expense consultants for particular guidance on which administrations are arranged at which rate.

Posted 21 October, 2018

Will VAT connected to the incomes of recently opened organization?

No, VAT is a utilization charge and appropriate just to the provisions you make. I am reestablishing the auto protection in December and starting at now no VAT is connected on my premium, can the insurance agency charge me the VAT in January for the exceptional I paid in December 2017? No. VAT is appropriate just from January 1, 2018.

Posted 21 October, 2018

Observations while shopping in last couple of days in Dubai

In last couple of days we (my wife and I) have been doing some shopping but carefully. For grocery, we went to Carrefour, Union, Spinneys &amp; LuLu on same day because of all those posts and comments everywhere, and there were significant price differences on almost all items in all of the stores. As an example, price difference between Dettol&#39;s Hand Wipes (180 pack), in Carrefour was 42 and Spinneys around 35.25. </p> <p>Another example is for Victoria&#39;s Secret (Mall of Emirates) for the buy one get one free offer at their store right now. On Thursday, we bought 4 gift sets of body mists 250 for 4 packs with this offer. Each gift set was 125. Today, they changed price to 150 per pack. We asked the employee there, first she denied. I had the receipt still in my wallet from the last purchase which I showed to her, then she changed her statement that &quot;sir this is due to TAX&quot;. I told her TAX is starting from 1 Jan not today. Then she changed statement again, &quot;sorry sir, price increase from the management&quot;. I mean seriously, WHAT THE HELL!

Posted 12 February, 2018

Will visiting businesses in UAE be able to reclaim VAT?

It is intended that we will allow foreign businesses to recover the VAT they incur when visiting the UAE. This is important as it encourages them to do business and also, because a lot of other countries have VAT systems, it protects the ability of UAE businesses to recover VAT when visiting other countries (where the rates are a lot higher).

Posted 21 October, 2018