V.A.T. hits the Gulf retail market

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20 December 2017 à 17h55

Updated on 10 May 2019 à 17h25

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1 minute

Publication: 20 December 2017 à 17h55, Updated on 10 May 2019 à 17h25

Reading time: 1 minute

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Publication

20 December 2017 à 17h55

Updated on 10 May 2019 à 17h25

Reading time

1 minute

Publication: 20 December 2017 à 17h55, Updated on 10 May 2019 à 17h25

Reading time: 1 minute

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From January 1, 2018, the Gulf Cooperation Countries will see launch of a 5% V.A.T. in the retail sector, adding to the cost of staples, fashion, home electrical products and jewellery. Tourist from the U.A.E. will be able to reclaim V.A.T. According to U.A.E. government estimates from September 2017, these new taxes are forecast to generate €1.6 billion in annual revenues for the Federal Budget.

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