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David Zulberg
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International VAT Recovery
International VAT Recovery

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Economists prefer VAT to other kinds of taxes

Attention, residents of the UAE and other GCC countries. Here is a message from almost everyone else: welcome to our world.
When your value added tax takes effect on January 1, you’ll be dipping one toe into the chilly unpleasant reality of personal taxes. The rest of us are in much deeper already.
As you contemplate your monthly budget, you may seek consolation in the low 5 per cent rate of the new GCC Unified Agreement for Value Added Tax (GCCUA VAT): some European countries charge more than 20 per cent. And you should find solace in knowing that the UAE Government has no plans for personal income taxes.

http://www.globalvatax.com/economists-prefer-vat-to-other-kinds-of-taxes/
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75% of GCC firms ‘have yet to engage VAT advisors’

Three-quarters of GCC firms have yet to engage with their tax advisor on the subject of value-added tax (VAT), study claims.
A survey showed that the vast majority – 88% – of respondent firms have not made budgetary provision for VAT, despite analysts predicting it will increase costs for businesses and add at least 2 percentage points to inflation in 2018.
The survey of 330 company representatives by Thomson Reuters and the Association of Chartered Certified Accountants (ACCA) revealed Gulf firms are woefully unprepared for the introduction a 5% GCC-wide VAT next year.

http://www.globalvatax.com/75-gcc-firms-yet-engage-vat-advisors/
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Understanding The S Corp

As your company gets larger and starts to earn more profits, it is usually a good idea to think about setting up a corporate structure. And one of the most popular is the S Corp. After all, you can potentially gain some nice tax benefits.
But of course, the rules can get tricky – and you will have to take on more expenses.

So to make this process easier, there are certain factors to keep in mind. Here’s a look...

http://www.globalvatax.com/understanding-s-corp/
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What is Double Taxation?
Double Taxation on Corporate Dividends

Read More at https://www.thebalance.com/what-is-double-taxation-398210

#doubletaxation #taxes
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