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Tags: APFN | ML | Emirates | Tax

UAE Ruler Issues Decree to Start Value-added Taxes in 2018

Sunday, 27 August 2017 10:37 AM

DUBAI, United Arab Emirates (AP) — 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 Sunday 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.

© Copyright 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


MiddleEast
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 Sunday on the decree issued by Sheikh Khalifa bin Zayed Al...
APFN,ML,Emirates,Tax
131
2017-37-27
Sunday, 27 August 2017 10:37 AM
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