In an interview with Khaleej Times, Jabeur, the first Arab woman to reach a Grand Slam final, opened up about mental health issues during injury layoffs
tennis10 hours ago
The Federal Tax Authority (FTA) has announced the supplies that will be subject to Value Added Tax (VAT) as of January 1, 2018, revealing selected sectors that will be assigned zero-rated tax, such as education, healthcare, oil and gas, transportation and real estate.
Selected supplies in sectors such as transportation, real estate and financial services will be completely exempt from VAT, whereas certain government activities will be outside the scope of the tax system (and, therefore, not subject to tax). These include activities that are solely carried out by the government with no competition with the private sector, activities carried out by non-profit organisations.
The UAE Cabinet is expected to issue a decision to identify the government bodies and non-profit organisations that are not subject to VAT.
In the GCC, the UAE and Saudi Arabia will be the first two countries to launch VAT from January 1 while other countries will follow in the coming years.
The introduction of VAT will help the UAE government to generate an estimated Dh12 billion (around 0.8 per cent of GDP) worth of revenue in the first year, which will increase to Dh20 billion (around 1.2 per cent of GDP) in 2019.
- business@khaleejtimes.com
In an interview with Khaleej Times, Jabeur, the first Arab woman to reach a Grand Slam final, opened up about mental health issues during injury layoffs
tennis10 hours ago
Taking to social media, the UAE President wished the new leader success on his journey
uae11 hours ago
Rahul Joy is the winner of Copper Cups Scratch Card
uae12 hours ago
GCCA has announced names and other details of accredited centres that can provide training certificates to drone operators
uae12 hours ago
Asia-Pacific girls maintain control in Patsy Hankins Trophy, while the Bonallack Trophy heads to a thrilling tie-breaker at Al Hamra Golf Club
sports12 hours ago
The lander will be designed to study the seventh and final asteroid of the mission, 'Justitia'
space13 hours ago
The Ministry of Foreign Affairs said country rejects all forms of violence and terrorism
uae13 hours ago
Gold ETFs drew first net inflow in four years in 2024, WGC says
markets13 hours ago