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 aims to generate revenue for the federal government and enabling a sustainable economic growth.... Continue Reading
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 hire additional workers over the month. On the price front, average selling prices rose for the... Continue Reading
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