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FINANCIAL NEWS
VAT to increase inflation rate in the UAE at USD 2.72bn
07 Jun 2016
(MENAFN) Value added tax from 2018 is predicted to generate an increase in price levels in the UAE.
Moreover, the country is ready to become the first one to introduce VAT by 2018, 82 percent of the respondents predict that this will lead to higher inflation rates.
However, 80 percent said that they would consider moving abroad if an income tax will be introduced.
The UAE will generate almost USD 2.72bn to USD 3.26bn as a result of introducing VAT in the first year of its application.
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