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UAE not planning VAT hike: finance minister

UAE has a current VAT of 5 percent. (File/AFP)

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Updated 11 May 2020

Arab News

May 11, 2020 08:53

UAE not planning VAT hike: finance minister

�� on Monday said it would raise VAT to 15 percent from 5 percent from July 1

Updated 11 May 2020

Arab News

May 11, 2020 08:53

DUBAI: The UAE has no plans to increase its value-added tax rate, its finance minister told Al Arabiya TV on Monday, after �� said it would triple its rate.
�� on Monday said it would raise VAT to 15 percent from 5 percent from July 1, seeking to shield finances hit by low oil prices and a slump in demand for its lifeline export worsened by the new coronavirus.