1. UAE ruler issues decree to start value-added taxes in 2018

UAE ruler issues decree to start value-added taxes in 2018

The ruler of the United Arab Emirates has issued a decree that sets the stage for value-added taxes to start being collected in the country beginning in January.

By: | Dubai | Published: August 27, 2017 10:10 PM
UAE, UAE ruler issues, start value-added taxes, value-added taxes, value-added taxes in 2018, WAM news agency The ruler of the United Arab Emirates has issued a decree that sets the stage for value-added taxes to start being collected in the country beginning in January. (Image: Reuters)

The ruler of the United Arab Emirates has issued a decree that sets the stage for value-added taxes to start being collected in the country beginning in January. The state-run WAM news agency carried a statement today on the decree issued by Sheikh Khalifa bin Zayed Al Nahyan, the UAE’s president and the ruler of oil-rich Abu Dhabi. WAM said the 5-percent tax “is to be imposed on the import and supply of goods and services at each stage of production and distribution, including what is deemed to be a supply.”

All six members of the Gulf Cooperation Council have agreed to begin collecting so-called VAT taxes, though others may begin later than January. The GCC includes Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the UAE.

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