EMT ACCOUNTING AND TAXATION SERVICES - UAE

  Tax is a word that can be daunting to many, but it's essential to understand its purpose. Taxation, specifically value-added tax or VAT TAX in UAE, is a crucial and essential concept to comprehend to understand in business operations. VAT is a consumption tax applied to a product at each production stage before the final sale. For example, a computer manufacturer is taxed on all materials and supplies they bought to create and produce the product before it is sold. Customers pay the VAT, calculated as a percentage of the total sale price, which the company already paid during production. It is important to note that VAT is not an extra expense or an add-on to the sale price but a mandatory requirement in the UAE. Understanding VAT's fundamental principles can help individuals and businesses manage the tax more effectively and avoid issues with compliance. Value Added Tax (VAT) is an indirect tax imposed on the consumption of goods and services in the United Arab Emirates ...