- June 25, 2016
- Posted by: admin
- Category: VAT in UAE
Importance of VAT in UAE & GCC
The UAE Federal and Emirate governments provide citizens and residents with many different public services – including hospitals, roads, public schools, parks, waste control, and police services. These services are paid for from the government budgets. VAT will provide with a new source of income which will contribute to the continued provision of high quality public services into the future. It will also help government move towards its vision of reducing dependence on oil and other hydrocarbons as a source of revenue.
Analysis suggests that it will help the country strengthen its economy by diversifying revenues away from oil and will allow to fund many public services. This is a sign of a maturing economy