Influencers and the new VAT laws in the UAE - all you need to know...
From now on, it’s all above board for influencers.
Artists and Social Media #Influencers (SMIs), who earn an exceeding amount of Dhs 370,000 in a 12-month period from means of their personal capacity, will now have to register for #VAT.
Artists fall under the category of make-up artists, DJ’s, Song writers, stage artists while SMI’s are those who deliver their services via social media to advertising products and/or services, the likes of bloggers, Instagrammers, YouTube hosts and TikTokers.
The UAE’s federal tax authority have disclosed this is subject to paid physical appearances, promotional ads across #socialmedia platforms or blogs posts.
Not to forget received goods, ‘gifts’, where the individual receives goods or services instead of cash, must be accounted for in their VAT calculations.
This applies to #UAE residents based in the UAE, UAE residents who promote a UAE based company overseas and non-residents who are working in the UAE while carrying out the paid ads or receiving gifts.
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