home  news  study zone  career advice  pq awards  free mag  advertise  contact  nq mag
PQ magazine is for part qualified accountants.

Read the latest web issue here – if you like what you see sign up today

Latest News

UAE to introduce VAT

08 August 2017

The United Arab Emirates looks set to the first Gulf state to introduce VAT, as it looks to make up for falling oil revenues.

From January 2018 tourists and other shoppers visiting Dubai and other cities in the UEA will have to pay a 5% tax on goods and services. The UAE government said the new tax will raise £2.5bn in its first year, amounting to 0.9% of GDP. UAE’s economy grew by 3% last year, down from the 3.8% rise in 2015.

Commentators believe other Gulf States such as Saudi Arabia, Oman and Bahrain will all follow suit.

[«all news]
preload preload preload preload
Subscribe to RSS