VAT can work wonders for the UAE and its SMEs

VAT can work wonders for the UAE and its SMEs

The impact on oil prices has paved way for new ideas on boosting public revenue, and considering the suggestions by IMF, the GCC governments are mulling over the thought of introducing VAT and corporation tax.

The GCC, with its tax-free environment, has attracted investors from various parts of the globe. But, when you take into account, the indirect cost implications associated with running an establishment, one might support VAT and avail of the facilities like – ease of conducting business, fair legal framework, and support systems for new establishments.With the VAT revenue model, these things could be improved.

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