...
Search

VALUE ADDED TAX (VAT)

Introduction of VAT in the UAE

Starting from 1st January 2018, the UAE Government will be introducing Value Added Tax (VAT) at a standard rate of 5%. VAT is charged on all taxable supplies of goods and services provided locally, except those specifically zero-rated or exempted. Our systems will be designed to ensure that VAT is charged, collected and deposited in accordance with VAT legislation.

Application of VAT to NBO Services


In compliance with the federal laws & regulations levying and regulating the tax in the UAE, VAT will apply to supplies of goods and services from 1st January 2018, even if the contract for the supply of such goods or services was entered into before that date. 

This applies without limitation, to agreement(s) related to bank accounts, products and services, various credit facilities and financing product and /or services we provide to you from 1st January 2018.


For further information on the VAT law, you may refer to the following websites:

Ministry of Finance: 
https://www.mof.gov.ae/En/budget/Pages/VATQuestions.aspx

Federal Tax Authority

Should you have any questions, please do not hesitate to contact us at vathelpdesk@nbo.co.om