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