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UAE: VAT rate cheaper than other nations

Zoom in font  Zoom out font Published: 2016-07-25  Views: 5
Core Tip: The UAE along with other Gulf countries will introduce the VAT for the first time in January 2018 at a standard rate of 5 percent.
 The UAE along with other Gulf countries will introduce the VAT for the first time in January 2018 at a standard rate of 5 percent. Currently five countries in the Middle East region have adopted Value Added Tax (VAT) or similar broad based consumption tax system (General Sales Tax or GST).
 
All European nations, several Asian and African countries have imposed VAT as it is simple to implement and directly relates to the type and level of consumption.
 
The Gulf Cooperation Council (GCC) States are expected to adopt a standard VAT system with a single rate applying to most goods and services and potentially some limited exceptions such as basic food items, health care and education.
 
 
 
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