Thursday 3 September 2015
 
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VAT

UAE seeking consensus with neighbours on VAT

The United Arab Emirates and its neighbours are working towards introducing value-added tax (VAT) in the region but don't yet have a consensus on tax rates and exemptions, the finance ministry said on Tuesday. "If the GCC

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VAT plans delayed by disagreement in region: UAE

The United Arab Emirates is still studying a proposal to impose a value-added tax but introduction has been delayed by a lack of agreement among neighbouring states on rates and exemptions, the Ministry of Finance said on Tuesday.

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VAT in the GCC – Old news or new chapter?

The recent action taken by the UAE to eliminate fuel subsidies has rekindled the debate on tax reform in the GCC, with the focus on domestic implementation of a broad-based Value Added Tax (VAT) on goods and services. While countr

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IMF urges Saudi to implement power reforms, VAT

Saudi Arabia must implement comprehensive energy price reforms and expand non-oil revenues by introducing VAT and land tax to overcome the situation caused by the declining oil price, said an IMF report. It should also control pub

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UAE plans sales and corporation tax

The UAE Government is set to introduce value-added tax (VAT) - a federal sales tax, and a corporation tax, accoridng to a report.   It would make the emirates the first country in the regon to introduce an econom

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UAE can impose tax on cars to boost income: IMF

The International Monetary Fund (IMF) has suggested introduction of several new measures including a special excise duty on cars in the UAE to increase government revenue, according to a report. It has also recommended implementat

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UAE can impose tax on cars to boost income: IMF

The International Monetary Fund (IMF) has suggested introduction of several new measures including a special excise duty on cars in the UAE to increase government revenue, according to a report. It has also recommended implementat

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UAE to draft new corporate tax, VAT laws in Q3

The UAE, seeking to bolster state revenues, is likely to complete the drafting of laws introducing corporate tax and value-added tax in the third quarter of this year, a senior Ministry of Finance official said on Thursday. "

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GCC to pursue plan for value-added tax

Officials of the six-nation Gulf Cooperation Council agreed at the weekend to keep working towards the introduction of a value-added tax around the region, in a sign that low oil prices may be strengthening support for the idea. A

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Gulf states plan key talks on value-added tax

Gulf states are pursuing discussions on plans to introduce value-added tax (VAT) in the region, with a meeting scheduled later this month aimed at resolving points of contention, a UAE finance official said. The six nations of the

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