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September 22, 2021
Economic Impact of Dubai Expo 2020
Dubai Expo 2020 will have an impact on the economy through the infrastructure valued at more than USD 12 billion (versus USD 7.5 billion estimate in 2013) that is being spent to successfully build Expo 2020’s establishment. The event was postponed by a year to October 2021 in view of the Covid-19 pandemic. Dubai Expo 2020 will be the first world expo to be held in the Middle East, North Africa, and South Asia region. Expo 2020 will leverage the...
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March 9, 2017
Who should worry most about VAT in the UAE?
The article originally appeared in The National | Business. By January 1, 2018, it is expected that value added tax (VAT) will be applied at a rate of 5 per cent on most goods and services in the UAE and wider GCC region. The GCC governments will face a combined fiscal deficit of about US$350 billion over the next five years, according to the IMF, which bases its estimate on an oil price of $56 per barrel. This means that...