The prices had slipped below $2,300 per ounce on Wednesday evening but recovered later in the day
uae4 hours ago
Value-added tax (VAT) was introduced to the UAE market, a hitherto tax-free regime, on January 1, 2018.
February 20, 2018, marks 50 days of VAT in the UAE.
At 5 per cent, UAE has the lowest VAT rate in the world. In comparison, Bhutan has the world's highest VAT rate at 50 per cent, while UK has a 20 per cent standard VAT rate and in India, the GST rate has an upper ceiling of 28 per cent.
Khaleej Times spoke to a cross-section of residents - both expats and Emiratis - to gauge just how much of an impact has VAT had on their monthly budgets - and on their sentiment.
The prices had slipped below $2,300 per ounce on Wednesday evening but recovered later in the day
uae4 hours ago
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