Dubai – Mubasher: The UAE’s 2018 budget revenues would not include the expected revenues from putting the value added tax (VAT) and excise tax into effect, the Financial, Economic, and Industrial Affairs Committee of the Federal Nation Council (FNR) said in a report.
The health insurance scheme will be also excluded from the 2018 budget, the report showed.
The excise tax is forecast to generate revenues ranging between AED 6 billion and AED 7 billion a year, while VAT receipts are expected to amount to AED 15 billion, according to the finance ministry’s estimates.
Revenues of the UAE’s federal budget for 2018 have been estimated at AED 51.4 billion.
