UAE Currently Does Not Intend to Increase VAT

UAE Currently Does Not Intend to Increase VAT

The Ministry of Finance (MoF) has denied any plans currently to raise the Value Added Tax (VAT) in the United Arab Emirates.. VAT is currently levied at 5%, and reaffirms the ministry's commitment to achieve the county's development goals and plans.. H.E. said: "We at the Ministry of Finance are studying our financial systems to ensure their readiness to manage the next stage and support all vital sectors.. VAT was introduced in the UAE at the beginning of January 2018, which is a 5% indirect tax imposed on several goods and services..