Dubai PR Network, Online Press Release from Dubai and Middle East
 
Economy & Statistics(Banking & Investments)
Filter PR by
  
Myths and misconceptions surrounding VAT
 

Al Dhaheri Jones & Clark sheds light on marketing gimmicks

Dubai, UAE, January 4 2018:   With the onset of the New Year, a five percent levy on most goods and services was introduced in the UAE in the form of Value-Added Tax (VAT). While marketers took advantage of this opportunity to sell goods and services in abundance, customers had no idea that a product or service purchased in 2017, but delivered in 2018 was yet applicable to tax.

“Marketers used VAT as an essential tool to encourage unwanted purchases. The fine print details were not revealed, which have not only outraged the customers, but also shattered the trust of many loyal customers. The introduction of VAT was considered to be phenomenal, and the public was under pressure. Taking advantage of this, marketers tapped their profit margins,” said Mohammed Fathy, General Manager of Dubai-based consultancy, Al Dhaheri Jones & Clark.

Commencing January 1, 2018 a five percent levy was imposed on most industries, including food and beverages, utility bills, private transport services, hotel services, entertainment, electronics, school uniforms, commercial rents, cars and jewellery, among others. However, education services will be exempt from VAT if run by a recognised institution and offers a recognised curriculum.

All six GCC countries agreed last year to introduce VAT, only the UAE and Saudi Arabia have said they will implement the new tax starting from January. 

 


Posted by : Dubai PR Network Editorial Team
Viewed 7052 times
PR Category : Banking & Investments
Posted on : Thursday, January 4, 2018  3:05:00 PM UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of DubaiPRNetwork.com.
Previous Story : Akamai Identified as a DDoS Mitigation Leader by Independent...
Next Story : UAE Research Program for Rain Enhancement Science to Celebra...
Email this article Print this article

Share this article with your friends and followers
NewsVine
Back to Section Home

Related Stories



 
 
Most Viewed Press Release posted in the last 7 days
The FW18 Trend Report From Weill Paris [20807-Views]
Climax Mascara Never Fake It [13774-Views]
Discover the Secret to Younger-looking, Radiant Skin [13640-Views]
Keep your skin looking healthy and hydrated, naturally [13536-Views]
Jessica Kahawaty in Dubai to Celebrate the Launch of SUKIN, Australia's No.1 Natural Skinc... [10858-Views]
Brow Contour Pro 4-in-1 defining & highlighting brow pencil [10419-Views]
LOOTAH Perfumes brings a collection of delicate scents to fulfill the needs of the fragran... [10260-Views]
The Balmain Haute Elegance Oval mirrors the brand's soul [9595-Views]
BodyO launches officially its AiPod for a full body check-up during the Gitex Future Stars [9217-Views]
The Rado DiaMaster Petite Seconde Automatic COSC The Rado watch at the top of the precisio... [8924-Views]
Get flawless skin with Rodial's new Booster Drops [8570-Views]
The World of Aigner Wunderkammer [8381-Views]
Lexus Design Award 2019 open for entries [8003-Views]
Elegant and feminine new Mini Bubble set to make a big splash [7436-Views]
Trend Alert! Giddy up on the best platform with your new horse-inspo ensemble from kate sp... [7290-Views]
Manero Peripheral (43 Mm) Classic Watchmaking Meets State of,the Art Technology [7125-Views]
Introducing the GUESS Jeans Fall 2018 Collection' [6826-Views]
Curate your perfect Autumn Winter wardrobe, with Robinsons [6722-Views]
Dubai Shopping Festival Returns With Much-awaited Mega Raffles [6618-Views]
Mohammad Abdullah, President of Dubai Institute of Design and Innovation (DIDI) [6454-Views]
Corum Heritage Eleganza- Dedicated to the stylish woman [6344-Views]
Daniel Craig Brings the Diver 300m to the Surface [6252-Views]
DS Podium Chronograph 1/100 sec [6210-Views]
Dubai's newest social hub - Bar Baar introduces ‘Thela Baar Brunch' [5941-Views]
OMEGA gets set to time the Youth Olympic Games Buenos Aires 2018 [5868-Views]
 
RSS Facebook Twitter LinkedDin
 
Top Sections
 
Top Stories