DUBAI: The UAE has no plans to increase its value-added tax rate, its finance minister told Al Arabiya TV on Monday, after º£½ÇÖ±²¥ said it would triple its rate.
º£½ÇÖ±²¥ 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.
UAE not planning VAT hike: finance minister
Short Url
https://arab.news/jc6zz
Updated 11 May 2020
UAE not planning VAT hike: finance minister
- º£½ÇÖ±²¥ on Monday said it would raise VAT to 15 percent from 5 percent from July 1
