The introduction of VAT in UAE marks a significant milestone as the first instance of VAT implementation among Gulf countries. This move reflects the UAE's efforts to diversify revenue sources and strengthen its economic foundation. The VAT system, with its initial rate of 5%, is aimed at enhancing public services and reducing dependence on oil revenues. This development underscores the region's evolving economic landscape and commitment to fiscal sustainability. For VAT Consultancy Services you can contact Now Consultant.
