EITC prepares for upcoming VAT regime
VAT will come into effect in January 2018
The Emirates Integrated Telecommunications Company (EITC) has revealed its plans to work towards compliance with the UAE's VAT regime across its entire telecommunications portfolio.
The EITC's plans are in accordance with the Federal Decree-Law No 8 of 2017 issued by President His Highness Sheikh Khalifa bin Zayed Al Nahyan. It will see that VAT will be applicable across telecommunications products and services at a rate of 5% as mandated by the Federal Tax Authority.
Osman Sultan, chief executive officer, EITC, said: "We see the introduction of VAT as a positive step towards developing a sustainable, economically diverse and future proof UAE.
"Ahead of the VAT implementation, we will be taking the necessary measures to educate our customers so that they are fully aware of the government directives regarding VAT and the way that it will impact their telecommunications spend," Sultan added.
Sultan concluded: "Our aim is to ensure that we smoothly implementing VAT across our business operations. We look forward to this new step the UAE leadership is taking. It is reflective of our development as a society, as well as our diversification into a knowledge economy."