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FINANCIAL NEWS
UAE plans to introduce new taxes on government services
20 Feb 2012
(MENAFN) The UAE’s Ministry of Finance said that in order to boost revenue and achieve the zero fiscal deficit target, in 2012, the government would introduce new fees on its services, reported Emirates 24/7.
The ministry added that the new fees would be only introduced this year, however, they would be imposed later, maybe in 2013 to give all parties enough time to get used to the new situation.
It also said that it has no plans to enforce direct or indirect taxes during the current year; nevertheless, it has finished a study to assess the socio-economic impact of any taxes on the local market.
It is worth noting that the federal government would take into account the position of the private sector and other parties targeted by the fees.
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