Can VAT Consultants Help General Public Get VAT-ready?
The VAT consultants in the UAE are making a
significant contribution to the current situation by assisting various
businesses in the country getting VAT ready before the commencement of the new
taxation system on January 1, 2018; but what most of the people aren't aware of
is that how these latest regulations are going to affect the household budgets
in the country.
Reportedly, the
government has tried to keep the burden on the general public to a minimum.
However, due to the introduction of VAT in the scene, the general public may
have to pay a certain amount of tax on water, food, electricity, and telecom
bills. Since most of the VAT Experts
services are busy helping various businesses in the country, a good number
of countrymen are unaware of such implications.
The
chairman of Institute of Chartered Accountants of India (ICAI), Dubai Chapter,
has stated in a report that he believes the introduction of VAT in these areas
can lead to effective utilization of the items, especially water and
electricity. He has also added that the VAT will have a limited amount of
impact (one to 1.5 percent) on the household budget in the UAE.
Read full information here: https://medium.com/@jijothomas859/can-vat-consultants-help-general-public-get-vat-ready-382d3fe1bdf9
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