The UAE has no plans to raise the rate of value-added tax (VAT) in the near future, according to Minister of State for Financial Affairs Obaid Al Tayer.
“If you’re referring to the next five years, we don’t see anything [about] increasing the VAT rate of the excise tax,” Al Tayer told reporters at the Arab Fiscal Forum, according to Arabian Business.
VAT was introduced at the start of 2018 at 5%.
“I also want to confirm that there aren’t any subsidies or any legislation or any legislation regarding introducing income tax,” he added.
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