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Value added tax could earn UAE $1.8 billion a year

UAE may have VAT in place as early as 2012, bringing in revenues of as much as $1.8 billion annually, according to analysts.

April 12, 2010 3:48 by



The introduction of value added tax, expected as early as 2012, could earn the UAE government $1.8 billion a year, according to a report in Monday’s The National.

“A five percent value-added tax in the UAE would double the revenues they get from customs duties,” The National reported Monday, quoting adviser to the Prime Minister’s office, Ehtisham Ahmad.

Obtaining a consensus among GCC countries regarding details of the new tax system is a priority, in order to “strengthen the common market,” The National reports.



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1 Comment

  1. ali fakha on April 13, 2010 6:15 am

    I would appreciate and I think many agree with me that the government here should also think not only how to add what ever the tax name, vat, slaes, income, etcc…. but to think about all expatriates here specially people who are many generations , what they can get against any kind of tax?? till now nothing been clear.
    so far nothing been done , no proper end of services as many of the employers have their own system in palying with the salaries and add so many on the basic, no any kind of retirement scheme, no ony kind of social security etc…
    in addition to this, no any kind of real protecion for expats in housing renatl increase, food products, petrol or gaz for all kinds of transportation and many other issues.
    There may be rules and regulations on paper but always the owners or landlords or who ever can always find different ways and systems to by pass and at the end do what he likes.
    In brief, what is known is take it or leave it. In this point I also agree as no one forcing those expats to come and work here. They like and accept what ever it is.

     

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