Abu Dhabi – Mubasher: The UAE’s undersecretary of the Ministry of Finance (MoF) Younis al-Khouri on Tuesday stated that the value-added tax (VAT) would increase the cost of living by 1% or 2% for just one time after being imposed.
This portion is quite low, al-Khouri added, according to Albayan newspaper, noting that the UAE would yield an amount ranged between AED 10 billion to AED 12 billion in the first year of imposing the tax.
VAT implementation is not likely to weigh on foreign investments, the undersecretary remarked, Albayan reported.
