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FinancialNews


  • 20-12-17

    UAE firms to not be offered additional time for implementing VAT

    (MENAFN) According to a government minister, an extra time to execute value-added taxation (VAT) is not to be offered to UAE-based companies.

    In Abu Dhabi Tuesday, minister of state for financial affairs Obaid Humaid Al Tayer stressed that "there will be no favours to anyone" while speaking to members of the advisory Federal National Council.

    As non-oil revenue boost is being sought after by the UAE and Saudi Arabia to challenge the affects of low crude costs on public prices, they are setting up to enforce the levy starting January 1st.

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