VAT

In line with Federal Decree – Law No. (8) of 2017 on Value Added Tax (VAT), VAT was introduced across the United Arab Emirates on January 1 2018 at a standard rate of 5%. Where applicable, VAT will be charged on taxable supplies of goods and services in the UAE.

In accordance with the new VAT Law, FAB will be required to charge and collect VAT on certain services, which will be paid to the Federal Tax Authority. From January 1 2018, all FAB rates and fees which are VAT-applicable have been revised, and terms and conditions amended accordingly.