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 5807 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
Cerruti 1881 Infinite Love [15500-Views]
Express Your Signature Style [15488-Views]
The Memovox Adventure [14530-Views]
Oh, Sweetie Lipcolour! [10455-Views]
Olivia Burton Watercolour Florals [10028-Views]
Travel Light with Beauty Essentials from Glambeaute.com [9113-Views]
Innovative Chronofighter Superlight Carbon is replete with Graham's formidable motorsport ... [8760-Views]
Jaeger-Lecoultre Main Sponsor of the 75th International Film Festival of La Biennale Di V... [8430-Views]
Tissot T-Race Cycling An adrenaline-fuelled ride [8119-Views]
Marchon Eyewear and G-III Apparel Group Sign Exclusive Global Licensing Agreement For DKNY... [8021-Views]
Summer Love by Mouawad [7338-Views]
DKNY Fall 2018 [7326-Views]
Tommy Hilfiger Dressed Up Collections [7082-Views]
Etihad Airways Celebrates President Xi Jinping's Visit With a Series of Cultural Activitie... [6600-Views]
A New Watchmaking Encounter in Pink Gold at the Venice International Film Festival [6551-Views]
Canvas on Wrist – Swatch Partners Up With Riksmuseum [6484-Views]
DS Podium Chronograph - Sporty as ever, now with PrecidriveTM [6411-Views]
Huawei's New Range of Artificial Intelligent Smartphones Set to Change Your Selfie Game [6405-Views]
Go Down Memory Lane with Fashion Trends from the '90s [6112-Views]
Inspired by legends, worn by new heroes, PUMA FOOTBALL brings you the AC MILAN 2018/19 Awa... [5862-Views]
The Maison Chaumet opens an exclusive pop-up at The Dubai Mall [5850-Views]
Enjoy an all-day breakfast at Sophie's Café [5844-Views]
From skin to comprehensive aesthetic care: a 15-year journey called Kaya Skin Clinic [5569-Views]
Dubai Camel Racing Club Honours Al Tayer Motors [5533-Views]
Introducing Salvatore Ferragamo's Men's Sun and Optical Capsule [5527-Views]
 
RSS Facebook Twitter LinkedDin
 
Top Sections
 
Top Stories