VAT Tax its coming...
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VAT Tax its coming...
I tried to resurrect a past thread unsuccessfully. I got this piece of new from the "on line arabian business dot com"
UAE nears introduction of VAT. This is not good news for me.
The UAE is moving closer to the introduction of a value added tax (VAT), Gulf News reports today.
IMF director for the Middle East and Central Asia Mohsin Khan told the newspaper that most Gulf countries are considering some form of indirect taxation. The Gulf states "are moving towards the introduction of VAT, however, the implementation of it will happen in phases. Service driven economies such as Dubai and Qatar will be the first to implement VAT, with Dubai already having made significant progress,” he said.
Khan said VAT makes economic sense for Gulf countries that are diversifying into sectors including tourism, hospitality and financial services. "Taxation is certainly a politically sensitive subject in the Gulf. However, a sales tax is unlikely to attract as much opposition as an income tax," he said.
UAE nears introduction of VAT. This is not good news for me.
The UAE is moving closer to the introduction of a value added tax (VAT), Gulf News reports today.
IMF director for the Middle East and Central Asia Mohsin Khan told the newspaper that most Gulf countries are considering some form of indirect taxation. The Gulf states "are moving towards the introduction of VAT, however, the implementation of it will happen in phases. Service driven economies such as Dubai and Qatar will be the first to implement VAT, with Dubai already having made significant progress,” he said.
Khan said VAT makes economic sense for Gulf countries that are diversifying into sectors including tourism, hospitality and financial services. "Taxation is certainly a politically sensitive subject in the Gulf. However, a sales tax is unlikely to attract as much opposition as an income tax," he said.
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VAT has been 'coming' for 5 years here. I remember the threads when it was last mentioned seriously and everyone was getting their knickers in a twist saying they would resign and this was the end of the world, blah blah blah.
Hotels in the UAE, and the restaurants within them already slug you with big taxes on all your purchases so I don't see the big deal. If and when it happens you do your figures and decide if it is worth staying. Until that time you just enjoy the sun and stay happy
Hotels in the UAE, and the restaurants within them already slug you with big taxes on all your purchases so I don't see the big deal. If and when it happens you do your figures and decide if it is worth staying. Until that time you just enjoy the sun and stay happy
Maybe EK ,management (
) can do the same with the VAT as they have done with driving licenses and get an exemption for EK pilots and their wives....
ps we do have tax here now anyway... like booze, restaurants , traffic violations than cant be proved but you have to pay...nice little earner, maids visa...all little things that soon add up.....I forget the numbers but 30% on alcohol and 10% on bills for eating out.
) can do the same with the VAT as they have done with driving licenses and get an exemption for EK pilots and their wives.... ps we do have tax here now anyway... like booze, restaurants , traffic violations than cant be proved but you have to pay...nice little earner, maids visa...all little things that soon add up.....I forget the numbers but 30% on alcohol and 10% on bills for eating out.
I believe locals with friends in the police force are able to have their fines removed from their name.
Unfortunately the infringememt cannot be deleted so it is sent at random to a poor sucker. Always ask for the photo....
Unfortunately the infringememt cannot be deleted so it is sent at random to a poor sucker. Always ask for the photo....
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I have found that the guys in Dubai get screwed a lot more taxwise than us guys down here in the sleepy hollow that is Abu Dhabi. We don't pay tax on booze when we buy take aways at the booze shop, and we don't pay municipal taxes or whatever they are called on bills in restaurants at hotels and stays in hotels whereas in Dubai you guys get slugged big time. I guess since Abu Dhabi still has bucketloads of oil derived income coming in, they don't need to find other ways to fund the economy. I'd be interested to see a properly conducted cost of living survey comparing Abu Dhabi versus Dubai cos I think from personal experience it is a lot cheaper to live down here than it is in Dubai. A lot less sitting in traffic jams too!
