UAE announces new tax rules for international purchases
The United Arab Emirates (UAE) has recently announced new tax rules for international purchases made by individuals and businesses in the country. These changes are aimed at increasing revenue and streamlining the tax system in the UAE. The new rules will impact the way goods and services are taxed, and it is important for individuals and businesses to understand the changes and how they will be affected.
According to Arab Business, The UAE has announced new rules for international imports, according to the Ministry of Foreign Affairs and International Cooperation (MoFAIC).
Beginning February 1, international import invoices valued at or over AED10,000 must be attested by MoFAIC.
“Pursuant to UAE Cabinet Decision No. (38) of 2022 on the attestation fees of commercial invoices and certificates of origin for importers into the United Arab Emirates, all imports into the country must be accompanied by an invoice attested by MoFAIC,” the UAE authority said via Twitter.
MoFAIC will collect a fee of AED150 for every commercial invoice of imported goods valued at AED10,000 or more.
The exemption for UAE import attestation fees include:
- Invoices for a value of less than AED10,000
- Personal imports
- GCC imports
- Freezone imports
- Police and military imports
- Charity imports
Attestation can be done digitally at the MoFAIC website by uploading documents. The Electronic Document Attestation Service (eDAS) website says:” Attestation is a procedure to confirm the validity of the seal and signature on documents issued in the UAE or abroad. Commercial Invoices attestation service is an automated online service to provide a digital attestation for commercial invoices only issued in the UAE or abroad within 12 minutes.”
Importers have 14 days to pay the attestation fees after the customs declaration for imported goods has been set.
For personal deliveries, the United Arab Emirates introduced a new customs duty on packages with a value of more than AED300 and shipped internationally came into effect on January 1. The new tax rules announced by the UAE for international purchases present both challenges and opportunities for individuals and businesses in the country. It is important for everyone to understand the changes and how they will be impacted. Consulting with a professional tax advisor can help ensure that individuals and businesses are fully compliant with the new rules and avoid any potential penalties or legal issues. At Consultycs, we have the expertise and experience to guide you through the new tax system and help you take advantage of the benefits it provides. Contact us today to learn more about how we can help you navigate the new tax rules and maximize your savings.
