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United Arab Emirates to introduce 5% VAT

Discussion in 'Buying Overseas Property' started by Damian George, Jun 3, 2008.

  1. Damian George

    Damian George New Member

    United Arab Emirates to become first oil-rich Gulf Arab state to introduce value added tax. DUBAI - The United Arab Emirates is on course to shed its reputation as a tax haven and become the first oil-rich Gulf Arab state to introduce value added tax, marking a step towards diversifying public revenues.

    As early as next year, shoppers in the sumptuous malls of Dubai -- the city-state whose oil resources are dwindling -- could find a VAT of up to five percent slapped on their receipts.
     
  2. John

    John New Member

    5% is pretty low still. Where is your source on this?
     
  3. Damian George

    Damian George New Member

    why have you posted this here?

    please try and add some value
     
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