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FINANCIAL NEWS
UAE’s VAT to lead to higher inflation rates
13 Jun 2016
(MENAFN) The introduction of VAT in the UAE by 2018 will lead to higher inflation rates, whereas the demand for luxury goods will be affected by additional VAT costs.
Accordingly, the healthcare sector would be least influenced by the additional VAT costs.
Moreover, UAE is predicted to produce almost USD 2.72bn to USD 3.26bn as a result of introducing VAT in the first year of its application.
Meanwhile, there is an urgent need to spread government revenues, which are still largely dependent on income from oil and gas.
More News
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BBK and CrediMax launch exclusive offers for customers in collaboration with The Ritz-Carlton, Bahrain
31 Aug 2025
BBK announces an exceptional 6-month grace period financing campaign for Personal and Car Finance customers
13 Aug 2025
BBK’s BD 5,000,000 Al Hayrat scheme awards BD 680,000 to 390 Al Hayrat winners in August and September
04 Aug 2025
HM the King’s Support for Youth is an Inspirational Model for Their Empowerment Journey
28 Jul 2025
BBK discloses its financial results for the half year ended 30th June 2025
20 Jul 2025
CBB approves the transfer of the retail banking operations of HSBC Bank Middle East, Bahrain Branch to BBK
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