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UAE says has no plan for now to increase VAT

economictimes.indiatimes.com

Saudi Arabia, the United Arab Emirates and Bahrain have already introduced the tax, with Riyadh tripling it this year. Oman said last month it plans to launch it in April.

DUBAI: The United Arab Emirates has no plan to increase value-added tax VAT ) to more than the current 5%, the ministry of finance said on Tuesday.All six Gulf Arab states agreed to introduce 5% VAT in 2018 after a slump in oil prices hit their revenues.”There are no plans or decisions at the moment to raise VAT to more than 5%…

Reuters

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