In the United Arab Emirates (UAE), VAT is a consumption tax that is levied on most goods and services sold in the country. If your business is based in the UAE or you are planning to start a business in the UAE, you may need to register for VAT if your taxable supplies and imports exceed a certain t…
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It’s been mandated in the UAE Commercial Company of 2015 that maintaining proper books of account for at least five years is now a legal requirement.
VAT in UAE already implemented now its time of tax returns filling, books of account should be maintained for five years as well.