The introduction of the value added tax (VAT) in the UAE, is expected early in 2009.
A Gulf News article reports that the introduction has been pushed back from late 2008 to early 2009. It also says, “The GCC (Gulf Cooperation Council) states entered into a common customs union in 2003, after standardising the import duties largely at five per cent. Initially, VAT is expected to replace the customs duty and start at a very low tax level.”
‘Initially’ is the operative word.
‘UAE Residents Get Time to Prepare for VAT’, Gulf News, 27 May 2008.
Dr. Geoff Pound
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