What Effects Will the New Value Added Tax Have?
The Value Added Tax will take effect in the United Arab Emirates beginning January 1, 2018. A flat 5% tax will be levied on many consumer goods while some sectors such as education, healthcare, transportation, real estate, and oil and natural gas production are either zero-rated or exempt. But not all expenditures, even in these categories, some are exempt or zero-rated, so care should be taken to understand the new tax. In healthcare, for example, some medicines may be taxed, and procedures undertaken for cosmetic reasons are subject to the