It was announced in 2016 in a joint press conference between the International Monetary Fund and the UAE Minister of State for Financial Affairs that VAT will be introduced in the United Arab Emirates at a rate of 5% from 1st January 2018.
As the end of 2017 draws near, we have been working to ensure that all our DragonDMS dealer management system users in the UAE will be able to implement the introduction of VAT within their businesses with the minimum of fuss.
The new VAT rules also include a second hand margin scheme, which will apply to used cars.
Users of our DragonDMS in the United Arab Emirates will have the new rate applied to their systems automatically from the first of January. Those who already have Sage Accounts and use our Sage Integration feature will find that the VAT on vehicle purchases, sales and margin VAT will all integrate within the transactions seamlessly.
Dragon2000 have been helping dealers and garages drive their businesses forward since 1995. Talk to our team today on 01327 222 333 or email email@example.com to find out more about how DragonDMS, our Dragon APPraise app and our individually built Car Dealer Websites can help your car sales or garage business increase profits and reduce costs.