Browse related articlesDubai rejects IMF VAT inflation claims
United Arab Emirates: Sunday, May 18 - 2008 at 10:22
Dubai Customs has rejected suggestions by the International Monetary Fund that the introduction of VAT will fuel inflation. The IMF believes once the 3% - 5% VAT is introduced, inflation in the UAE would rise by another 2%. But the government said VAT would improve living standards and strengthen the economy. It added that VAT will replace existing 5% customs duties.
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StaffSunday, May 18 - 2008 at 10:22 UAE local time (GMT+4)
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