UAE:All insurance commissions will attract VAT

By Bhaskar Raj | 09 Nov 2017

United Arab Emirates Life & Health Property & Casualty

The UAE is all set to introduce value added tax (VAT) at 5% on insurance, except on life insurance and life reinsurance, with effect from 1 January 2018. However, all commissions- - whatever the underlying class of business, whether VAT-exempt or otherwise-- will be subject to VAT, said Mr Michael Vaughan, Senior Tax Director, Grant Thornton which is an international professional services firm.

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