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News

How to avoid VAT affection of construction costs

  • Author:Nicole Zhang
  • Source:Onekin
  • Release on :2017-09-19
  A Dubai-based accounting expert said the construction costs might be influenced by the upcoming implementation of value-added tax, and residential property & bare land can be exempt from VAT.
  The expert also mentioned paying VAT is like a debit on the cash flows, if the collection cycle is quick, cash flow can more or less remain the same. On the other hand, however, if the collection cycles are long, there’s risk of 5% pinch on the cash flow.
  It means that if contractors are trying to make their cash flow stays the same, they should make a quick collection cycle.

  Glade, Onekin lightweight concrete panels can be very helpful in this situation. 
  Firstly, it’s lightweight and use precast technology, help for fast installation. According to our customer, they can finish one year work in four for five month.
  Secondly, it helps to lower total project from 10% to 30%, because contractors can save on labor and basement and transportation.
  Last but no least, there’s additional value, such as fireproof, thermal insulation and total green. It can make the building more value.

  Onekin Green Panel,
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