Excellent article from Top Best Lawyers in Dubai
Relaxation of tax liability was one of the major incentives for investors flowing into the United Arab Emirates (the UAE) from a very long time. However, this incentive is dying and the UAE government has already announced their decision to impose Value Added Tax (VAT) in the country. Would this affect the inflow of foreign investment? Would this affect the domestic prices of goods and services? Let us read further to find out.
UAE has been blessed with abundant oil reserves and master-planned commercial economy. But that is not enough! Up to now, the government rooted and sustained on domestic indirect taxes such as SALIK, transfer taxes; and colossal foreign flow of investment. But with the dip in oil prices, the UAE had been planning to implement VAT for over a decade now. But they were always speculative of the adverse effects that it may have…
View original post 309 more words