PHL Consulate General in Dubai Conducts Seminar on VAT in the UAE

Photo:  Filipino entrepreneurs, accountants, and auditors attended the Dubai PCG-organized seminar on the impact of VAT on businesses. 

21 November 2017 DUBAI – The Philippine Consulate General in Dubai conducted a seminar on the impact on businesses of the 5% value added tax (VAT) that the UAE government will impose on goods and services by January 2018.

The seminar was held in cooperation with Mayurbatra Group, a Dubai-based company specializing on auditing, accounting, and management consultancy services.  Resource persons from the Group discussed the salient points of the UAE rules and regulations on VAT, the actions that businesses must undertake in preparation for the implementation of VAT, including the technology infrastructure required by VAT enforcement.

The Consulate General conducted the seminar to assist Filipino businesses, accountants, and auditors in preparing for the implementation of VAT in light of numerous questions and concerns regarding the new taxation system. 

Mayurbatra emphasized that businesses must ensure that they are fully compliant when the VAT system is rolled out to avoid huge penalties.  Moreover, businesses must review their existing contracts and accounting and billing system to make sure that all have VAT component. END

For more information, visit www.dubaipcg.dfa.gov.ph.