E-commerce to contribute significantly to VAT revenue

E-commerce is expected to significantly bolster government revenues from value-added tax (VAT) in the UAE, data on fast-growing online sales indicate. The UAE introduced VAT in 2018 as part of its fiscal strategy to diversify government revenues. VAT, essentially a consumption tax is universally applicable for all purchased including online purchases with very few exceptions.

Read full article - https://gulfnews.com/business/vat-is-universal-for-ecommerce-transactions-1.68959399

Source - Gulf News