UAE to introduce ‘world’s lowest VAT’

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http://maltawinds.com/2018/02/07/uae-introduce-worlds-lowest-vat/

The UAE has the lowest global and regional value-added tax, compared to countries such as Britain, Switzerland, Germany, Mexico, South Africa and Australia, and is the least Arab country among the countries that apply the tax, according to a recent study by the Alliance Network.

The study ruled out the occurrence of any negative effects from the application of VAT on the plans and projects «Expo 2020» .. These projects have opened sustainable investment areas for the UAE in all sectors of investment and service.

The country with the lowest value-added countries is Taiwan, which is charged by 5%, Singapore 7%, Hungary the highest in the application of VAT, 27%, Denmark and Sweden 25%, Italy 22%, Spain 21%, Turkey 18 %. Other countries charge VAT, such as Russia with 18 percent, Brazil with 7 to 18 percent, India with 13.5 percent, Indonesia with South Korea 10 percent, Senegal with 18 percent and Sri Lanka with 12 percent.