UAE Central Bank published first Exchange Rates for VAT invoicing purposes

PUBLICATIONS / Articles / 2018 / UAE Central Bank published first Exchange Rates for VAT invoicing purposes

Starting from 17th May 2018, the Central Bank of the United Arab Emirates announced that it will publish a list of foreign currency rates against the AED (Arab Emirates Dirham), to facilitate UAE businesses calculating their VAT (Value Added Tax) obligations to the UAE Federal Tax Authority. The rates published on the website are in line with the requirements of Federal Law No. 8 on Value Added Tax (VAT). The official rates are posted on the official website of the UAE Central Bank.

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