Estonia Increases Tax-Deductible Income to EUR 500

Estonia Increases Tax-Deductible Income to EUR 500

As from 1 January 2018 amendments to tax legislation of Estonia regarding taxation of individuals’ income will become effective. One of the main changes refers to increasing of tax-deductible income from 180 to 500 euro. Although, personal income tax rates will become the same (average tax rate is about 20%). Thus, once legislative changes become […]

UAE Imposes a Value-Added Tax

UAE Imposes a Value-Added Tax

At the end of August this year, President of the UAE has signed a new act of legislation which imposes a value-added tax. The basic rate of the VAT will be 5%. However, a lot of exceptions are provided by the legislation. In some cases, the tax rate may be 0%, and in other cases, […]