UAE pledges to distribute 70% of VAT proceeds to help fund community projects
UAE pledges to distribute 70% of VAT proceeds to help fund community projects
London - Al Maghrib Today
Sheikh Mohammed bin Rashid Al-Maktoum, UAE vice president, prime minister and ruler of Dubai, made the disclosure during the first cabinet session of 2018.
“We have decided to distribute value added tax revenues in the UAE so that local governments will receive 70 percent of these revenues to achieve better local services, greater community development, and wider support for our citizens,” he said.
The UAE and Saudi Arabia introduced value added tax (VAT) on Jan. 1, 2018. The 5 percent levy was applied to most goods and services. Saudi Arabia this week announced plans to issue a number of grants to citizens to help offset the impact of the new tax.
"The government will be transparent about the nature of these projects and firm in controlling the markets to prevent price hikes, and will continue to consult with citizens in order to serves their interests in the first place," he added.
Source: arabnews
- Monday ,15 January GMT 17:47 2018 ‘Negative’ outlook for Gulf sovereign ratings in 2018, says Moody’s
- Sunday ,07 January GMT 19:27 2018 UAE pledges to distribute 70% of VAT proceeds to help fund community projects
- Wednesday ,03 January GMT 11:35 2018 Saudi Food and Drug Authority: No VAT on human medicines, vitamins, and registered medical equipment
- Wednesday ,03 January GMT 07:30 2018 Morocco’s 2017 Economic Growth: GDP on the Rise, Investment in Decline
GMT 17:47 2018 Monday ,15 January
‘Negative’ outlook for Gulf sovereign ratings in 2018, says Moody’sGMT 19:27 2018 Sunday ,07 January
UAE pledges to distribute 70% of VAT proceeds to help fund community projectsGMT 19:21 2018 Sunday ,07 January
Surge in foreign fund inflows sets stage for Egyptian boomGMT 19:15 2018 Sunday ,07 January
Iraq to export Kirkuk oil to Iran before January-endGMT 11:35 2018 Wednesday ,03 January
Saudi Food and Drug Authority: No VAT on human medicines, vitamins, and registered medical equipmentGMT 10:00 2018 Wednesday ,03 January
Saudi Customs launches Approved Economic Operator programGMT 07:30 2018 Wednesday ,03 January
Morocco’s 2017 Economic Growth: GDP on the Rise, Investment in DeclineGMT 18:33 2018 Monday ,01 January
No New Year cheer for UAE property market
Argentine peso starts to recover after two days of crashes
Buenos Aires - AFP
Argentina's peso began to recover on Friday as markets opened, making a tiny 0.68 percent gain after losing 20 percent of its value against the dollar over the previous twoTo partake in Beiteddine Festivals
Singer Bruni arrives in Beirut Sunday evening
Beirut - NNA
French renowned singer and supermodel, Carla Bruni, is expected to arrive this evening at Rafic Hariri International Airport in Beirut, accompanied by her husband, former French President Nicolas Sarkozy. BruniIn France
Microsoft to open 4 data centres
Paris - Al Maghrib Today
Microsoft is to open 4 data storage centers in France to meet strong customer demand for cloud computing, the head of the software giant's French operations told the Agence France-Presse onVAR in Champions League only from 2019-20 season
Moscow - AFP
UEFA are set to wait until next season before introducing Video Assistant Referees (VAR) in the Champions League, although they are still not ruling out having it in this season's final, president Aleksander Ceferin said on Friday. Ceferin has soFor $11.6 bn
Sanofi buys US haemophilia treatment firm
Paris - Al Maghrib Today
French pharmaceutical firm Sanofi said Monday it had reached an agreement to purchase US biotech company Bioverativ, which specialises in treatments for haemophilia and rare blood disorders, for $11.6 billion. Sanofi's chief executive Olivier Brandicourt said the acquisition "enhances itsParis show pays homage
To 'eternal style' of late Alaia
Paris - Al Maghrib Today
Two months after legendary designer Azzedine Alaia's sudden death plunged the fashion world into mourning, an exhibition in homage to the "King of Cling" opened Monday in his studios in Paris. The Tunisian-born designer, renowned for the way his clothes hugged the body, died suddenly in November aged 82, reportedly of heart failure after falling down the stairs at his home. The diminutive maverick, who ignored fashion week convention by showing when and where he wanted, in July produced his first couture collection in six years to rapturous reviews. Now some of his most iconic dresses are going on display in the glass-roofed gallery next to his studio and home in the Marais district where he used to show his creations. It includes the dress worn by supermodel Naomi Campbell, his longtime friend and muse, when she led hisGMT 09:22 2018 Monday ,22 January
Skincare PR Performance Full Year 2017GMT 11:03 2018 Wednesday ,24 January
New hunt for flight MH370 gets under wayGMT 10:57 2017 Thursday ,21 December
Modern colorful bedroom renovationGMT 13:56 2018 Tuesday ,23 January
Puigdemont candidate for Catalan presidentGMT 10:47 2018 Wednesday ,24 January
Turkey detains dozens moreGMT 10:46 2018 Tuesday ,16 January
The Rake announces editorial updatesGMT 11:51 2018 Tuesday ,23 January
Europe brings on charm and blue skiesGMT 10:46 2017 Tuesday ,19 December
For the Variety of Interior Design StylesGMT 13:44 2018 Monday ,22 January
US Christian tourists see deep meaningGMT 10:03 2018 Tuesday ,23 January
Amazon to open first cashierless shop
GMT 17:44 2017 Wednesday ,27 December
Saudi king holds talks with Turkish prime minister in Riyadh
GMT 09:32 2017 Monday ,23 October
Spurs' Kane rips sorry Liverpool to shreds
GMT 16:55 2017 Tuesday ,19 September
Clashes intensified between ISIS and Syrian Democratic forces
GMT 14:19 2017 Wednesday ,12 July
Trillion-tonne iceberg breaks off Antarctica
GMT 10:04 2017 Friday ,06 October
Rudy stunner helps Germany ease into World Cup finals
GMT 14:49 2017 Wednesday ,23 August
Watford shocked in League Cup second round
GMT 08:54 2017 Thursday ,09 November
Putin and Trump to meet Friday in Vietnam
GMT 12:14 2018 Monday ,15 January
As Trump clamps down, migrant workers have much to lose
GMT 17:11 2017 Tuesday ,10 October
EU's Tusk urges Catalan leader against action making 'dialogue impossible'
GMT 09:58 2017 Tuesday ,28 November
Syrian government holds off on attending UN peace talks
GMT 18:04 2017 Sunday ,23 July
German jihadi girl arrested in Iraq: BerlinGMT 07:09 2012 Monday ,14 May
Amani El Swissi returns with\'Tabini Leash\'
GMT 13:37 2017 Wednesday ,04 October
Saudi Arabia opens bid for 'utility scale' solar project
GMT 09:34 2017 Tuesday ,24 October
Fit for a king: Thailand's royal cremation
GMT 14:51 2017 Wednesday ,20 September
British kayak adventurer slain in Brazil's Amazon
GMT 07:39 2017 Monday ,19 June
Abdullah bin Zayed opens new building of UAE Embassy
GMT 13:08 2017 Tuesday ,05 September
ISIS leaders killed during air raid from International Coalition
GMT 13:08 2017 Sunday ,26 March
Somalia urges relief agencies to return
GMT 12:46 2017 Friday ,23 June
Ghana court rules transfer of ex-Guantanamo detainees unconstitutional
GMT 16:29 2017 Wednesday ,02 August
Online 'suicide' searches spiked after Netflix's '13 Reasons Why'
GMT 11:58 2017 Friday ,03 March
UAE offers condolences to familiesGMT 07:41 2012 Friday ,13 April
Anne Hathaway is a bomb in catwoman suit
GMT 13:00 2015 Saturday ,17 October
Inspired by calligraphy, Montblanc Legend fragrance
GMT 22:36 2011 Friday ,11 March
Lamborghini Aventador
GMT 15:29 2013 Tuesday ,20 August
Plight of maintaining beauty salons in Jordan
GMT 12:18 2017 Thursday ,07 September
Italian Doctors Baffled after Malaria Kills Four-Year Old
GMT 17:12 2017 Tuesday ,25 April
Wydad's goalkeeper hopes to continue with team
GMT 15:56 2017 Sunday ,12 March
Mobile-phone users to get clarification on Islamic issues
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Send your comments
Your comment as a visitor