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LAW ON 5 PER CENT VAT PASSED IN UAE; HOUSE RENTS SET TO RISE

Business owners and landlords must pay a five per cent value-added tax (VAT) starting January 2018, announced the Federal National Council (FNC) on Wednesday in the UAE capital. The FNC approved the draft law, which serves as a legal framework and organizes all the regulations of taxes, which...
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UAE NON-OIL SECTOR RECORDS STRONGEST UPTURN IN OUTPUT IN 18 MONTHS

Boosted by higher oil prices, business conditions in the UAE’s non-oil private sector continued to gain momentum in February as output and new orders accelerated. “Strong demand conditions and a favorable economic environment encouraged companies to scale up purchasing activity and...
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