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Introduction of VAT (Value Added Tax) in UAE

Introduction of VAT (Value Added Tax) in UAE
 
The UAE Ministry of Finance has published the Federal Decree – Law No. (8) of 2017 on Value Added Tax (the VAT Law). Effective from 1 January 2018, VAT will be applicable to most goods and services supplied in the UAE by any person/business at a rate of 5%, except where supply is specifically zero-rated or exempted under the VAT Law. In accordance with the law, ABSOLUTE Rent a Car will be imposing VAT on top of the prevailing rate on all invoices, where applicable.