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UAE expects to issue VAT laws before September 2017
Abu Dhabi - UAE plans to introduce VAT at a 5 per cent rate in January next year.
Khalid Ali Al Bustani, director-general of the Federal Tax Authority, was briefing reporters before the country introduces some of the biggest changes to its tax system in decades.
Along with the other countries in the GCC, the UAE plans to introduce VAT at a 5 per cent rate in January next year.
The government, its oil revenues pressured by low energy prices, also plans to introduce excise taxes at rates of 100 per cent for tobacco and energy drinks and 50 per cent for other sugary soft drinks.
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