Selva + 252 SP January 2, 2018 These Gulf countries have attracted forein workers with the "no-tax life" promises for a long time, but the government now wants to increase their revenues at the time of oil price hike. A five percent tax will apply to most goods and services in those countries. 1 Quote Share this post Link to post Share on other sites
J Owens + 45 January 2, 2018 The rentier states of the Middle East have been forced to transform after the oil price crash - taxation will only get harsher and huge subsidies will begin to shrink Quote Share this post Link to post Share on other sites
Vlad Kovalenko + 115 VK January 2, 2018 Just 5 percent? Lucky them. Quote Share this post Link to post Share on other sites
Adam Varga + 123 AV January 2, 2018 Well it is 5 percent for now but probably will get higher as soon as they see how much revenues will they get from this tax. They estimate that during the first year VAT revenues will be about $3.3 billion just in UAE. Quote Share this post Link to post Share on other sites
Selva + 252 SP January 2, 2018 6 minutes ago, Vlad Kovalenko said: Just 5 percent? Lucky them. Yes very lucky especially because they still have no plans to bring in income tax. That means most residents still pay 0 percent tax on their salaries. Quote Share this post Link to post Share on other sites
Adam Varga + 123 AV January 2, 2018 This is just their attempt to help the economies during these financial crisis and decline in oil prices. The citizens of these countries depend too much and too long on oil and gas. Quote Share this post Link to post Share on other sites
Vlad Kovalenko + 115 VK January 2, 2018 This seems to me more like a desperate move and first indicator of running out of oil supplies. Quote Share this post Link to post Share on other sites
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