Interview with Al Arabiya (Arabic) on the implementation of VAT in the UAE, 1 Jan 2018

3 January, 2018
read < 1 minute

The UAE introduced Value Added Tax (VAT), a broad-based indirect tax levied on the consumption of goods, from January 1, 2018 at a standard rate of 5%. In this interview, Dr. Nasser Saidi touches upon revenue and economic diversification, and VAT’s impact on inflation, businesses. He also compares VAT rates across the globe, while also discussing fines for non-payment of VAT.

The interview (in Arabic), telecast on 1 Jan 2018, can be viewed here.

The UAE VAT rate of 5 percent is among the lowest in the world. In Egypt, it is 14%; in Lebanon it’s 11%. The UAE government is projected to collect AED 12 billion ($3.27 billion) in 2018 from the new tax and AED 20 billion ($5.45 billion) in 2019, rising to 1.5% of gross domestic product over next three years. More comments also appeared on Xinhua.

Read Next

media page

“Economic diversification is the GCC’s top priority”, Op-ed in Arabian Gulf Business Insight (AGBI), 3 Apr 2024

The opinion piece titled “Economic diversification is the GCC’s top priority” appeared in the Arabian

4 April, 2024

TV and radio

Interview with Al Arabiya (Arabic) on Fed interest rates, 20 Mar 2024

In this interview with Al Arabiya aired on 20th March 2024, Dr. Nasser Saidi discusses

21 March, 2024

media page

Comments on the GCC diversification strategies in Arab News, 9 Mar 2024

Dr. Nasser Saidi’s comments appeared in an Arab News article titled “Diversification strategies paying off

10 March, 2024