The remaining 30 per cent would go into the federal budget, Sheikh Mohammed said.
The remaining 30 per cent would go into the federal budget, Sheikh Mohammed said.
New tax to show a clear trail of fund movement in a firm
Analysts also expect inflation to inch up in 2018 due to new tax
For data packages, any plan taken in 2017 and spilling over into 2018 will be subject to VAT
The retail chains in Abu Dhabi can round off the amount to 25 fils if the bill shows 5 or 10 fils payable.
Many consumers have put several purchasing decisions on hold until they are better aware of how the tax works and how they will be charged
With VAT introduced on January 1, prices of most goods and services are set to rise by at least 5%
UAE retail sales spike before new year as customers avoid new tax
Five per cent VAT will apply on actual usage, and not on prepaid credit.
The department sends field inspection teams for investigation