Dubai – Mubasher: The UAE Federal Tax Authority (FTA) on Thursday stated that the fees imposed on investors on the stock markets would be subject to a 5% value-added tax (VAT).
The levied tax will be imposed on commissions of buying and selling transactions on the stock markets, not the transactions themselves, Al Bayan newspaper reported, citing FTA as saying.
Earlier December, the Dubai Financial Market (DFM) and the Abu Dhabi Securities Exchange (ADX) announced that the VAT would be put into effect as of 1 January 2018.
