5 per cent VAT in UAE
The GCC has confirmed that it will bring in VAT at 5 per cent on January 1, 2018.
Obaid Humaid Al Tayer, Minister of State for Financial Affairs, said: “The implementation as per the GCC Supreme Council resolution will be implemented as of January 1 2018, and other countries can take a later date of implementation on January 1, 2019.”