UAE may impose VAT in 2009
United Arab Emirates: Wednesday, May 07 - 2008 at 10:05
The UAE is likely to introduce a value added tax in early 2009 to replace the exisiting customs duty, a senior Dubai Customs official said on Tuesday. The tax rate will be between three and five%, and initially it will generate about the same amount as collected in customs. The UAE has spent two years studying the VAT, and the infrastructure to levy it will be ready by the last quarter of 2008, reported Gulf News.
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Jeff Florian, Senior ReporterWednesday, May 07 - 2008 at 10:05 UAE local time (GMT+4)
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