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Author Topic: UAE is not a tax free country further more.. Vat is on the way  (Read 30 times)
anushkasachith888
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December 27, 2017, 08:37:20 PM
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UAE was known for Tax free country. but it is not more.

The UAE Minister of State for Financial Affairs, His Excellency Obaid Humaid Al Tayer, has stated that the UAE will implement VAT at the rate of 5% on 1 January 2018.

The minister was speaking in Dubai on 24 February after a joint press conference with Christine Lagarde, Managing Director of the International Monetary Fund (IMF). VAT is expected to be introduced at a rate of 5% with some limited exceptions including basic food items, healthcare and education. The UAE are planning to implement on 1 January 2018 - other GCC countries may do so at the same time or by 1 January 2019 at the latest.

Courtesy : .pwc.com

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mrtryonebiggums
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December 27, 2017, 09:08:47 PM
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Dude but still you can't complain about a 5% vat that is next to nothing. Still a safe haven if you ask me given that low tax rate.

salamyman
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December 27, 2017, 09:34:59 PM
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People are not exactly poor over there - not really something to cry about.
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December 27, 2017, 10:45:31 PM
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Dude but still you can't complain about a 5% vat that is next to nothing. Still a safe haven if you ask me given that low tax rate.
Totally agreeing with you! Have visited countries where VAT reaches up to 25% on some products, so 5% is basically you taking care of your country the way you are supposed to. Smiley
anushkasachith888
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December 28, 2017, 05:44:47 AM
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Dude but still you can't complain about a 5% vat that is next to nothing. Still a safe haven if you ask me given that low tax rate.

What about minor workers who work there? people like Bangladeshis work for Diram 800 ? I know there are plenty of people like that in Dubai. They are to serve rich people and high rank professionals who work in UAE. Dubai is a heaven some people while it is a hell for some people .

anushkasachith888
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December 28, 2017, 05:56:09 AM
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People are not exactly poor over there - not really something to cry about.

Vat is not only for the locals. for foreigners too. There are plenty of foreign workers as minor staffs too. their salary range is very low. They too have to pay this tax i think.

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