VAT will allow GCC economies to become less dependent on income from oil.
VAT will allow GCC economies to become less dependent on income from oil.
5 per cent VAT will be added across du's products and services
Implemented across more than 150 countries worldwide, the UAE's 5% VAT is among the lowest in the world
Corporate tax or additional taxation on luxury cars may come into effect in future, say experts
Value-added tax is set to roll out across the UAE starting January 1.
Implemented across more than 150 countries worldwide, the UAE's 5% VAT is among the lowest in the world
Exchange houses, however, do not expect value-added tax to affect remittances from UAE.
The UAE and Saudi Arabia will be the first two countries to launch VAT from January 1
Also identifies supplies exempted from VAT