My research on VAT (Value Added Tax) in UAE and its implementation study for Business Taxation Course

I did some research for the project of Business Taxation Course and I would like to share my own summary of the topic which is the VAT (Value Added Tax) in UAE and its implementation study.

Definition of VAT:

VAT is a tax on consumption rather than production and is calculated on the stages of production of a commodity or service to avoid repetition. Also it is a neutral tax, which is imposed not on the value of products at their final price, but on the value added at each stage of production.

United Arab Emirates vat / sales tax  and the study of its implementation ,the Indirect Sales tax:

There are no consumption taxes or VAT (Value Added Tax) in the UAE, but individual Emirates may charge levies on certain products such as liquor and cigarettes and on certain services such as those provided in the hospitality industry and this considered as indirect sales tax.Value added tax has slowly entry and implement on developing countries, and now is about to hit the GCC. Thus, the people feel worry for reaching and implementing VAT in the country,  especially in Dubai given the increasing cost of living that has suffered the emirate in recent years from these increasing.  So it is time to look the reality that a tax should be implemented and the VAT will be implementing within the coming two to three years so there is currently no sales tax and there is delay on the implementation of VAT Law in the UAE until mid-2013.  However, a last decision has to be taken through the federal authorities and recommended by the International Monetary Fund (IMF) and the UAE consider implementing such a system of VAT. This will be an essential decision for the country’s leader.  Therefore, the UAE has been studying to implement VAT about more than two years it must be well advanced in preparations to implement the VAT law. The UAE has to study the current economic conditions, the global downturn, falling oil prices and the advancing US dollar must support early implantation as inflationary pressures are decreasing.  Furthermore, a stable and diverse revenue source will assist public investment and expenditure essential for economic diversification. Thus, those activities will support to introduce VAT in the UAE.   

The 7th Dubai Courts Excellence Award event

Today, I attended the annual celebration of 7th Dubai Courts Excellence Award with my colleagues in my workplace, which was held in the Culture and Scientific Association’s Hall. It was very nice event and congratulation for the winners of the award.

Background of Dubai Courts Excellence Award:

In 2006 –The  Dubai Courts initiated its internal annual excellence award, the

"Dubai Courts Excellence Award", as an expression to its commitment to excellence. As well as, to encourage the human resources and its administrative and judicial divisions involvement in the context of excellence.Dubai Courts continuously encourages its human resources involvement in all the conferences, seminars and training courses that are related to excellence.

Director's List Certificates From Dubai Women's College

Congratulation to Myself

I'm very happy today because I got a Certificate of Excellence from my college "Dubai Women's college" as I'm one of the best students academically that has 3.50 GPA and above out of 4 GPA. Actually, this is my 8th certificate that I have got it from DWC in the previous semesters. I would like thank  my college of keep encouraging and supporting us to be the best students. 
  

Happy National Day UAE

Through my blog I would like to express my feeling to my country a great nation that deserves the Best Wishes on its 41st National Day! Great Leaders built this nation under the leadership of HH.Sh. Zayed Bin Sultan Al Nahyan.

For those of us living in the UAE, national day is on the 2nd of December. The idea behind the date is that on that same day in 1971 the area formally declared its independence from Great Britain and began working towards unifying what is now the United Arab Emirates.

The most interesting thing about the celebrations here is that they follow a new theme almost every year and with a different logo for each. This year’s theme, like in 2011, is “Spirit of The Union” which fits the history perfectly. The logo shows the rulers of all 7 Emirates standing together with the UAE flag.

Union Tree Initiative

The Union Tree Initiative is an initiative of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, and already it has seen tens of thousands of trees being planted across the nation since being launched on November 15, 2012, as part of the National Day celebrations.

H.H. Sheikh Mohammed bin Rashid Al Maktoum launched the Initiative as a symbol of unity, peace, stability and freedom for the UAE. It is also aimed at consolidating the spirit of unionism, love and loyalty for the country. 

Union Tree Initiative at my work place "Dubai Courts"