Younis Haji Al Khouri, Undersecretary of Ministry of Finance, has refuted rumours about introduction of direct taxes and plans to increase value added tax (VAT). "There are no plans or decisions to raise VAT or impose new taxes in the near future. There is no validity [in the rumours] on direct taxes or increasing VAT," said Younis Haji Al Khouri, Undersecretary of Ministry of Finance, who was quoted by Arabic media on Thursday.
"Since the introduction of the VAT, it was decided that there will be no increases to the VAT rate for 5 years, after which the matter will be reviewed and an appropriate decision taken," said Al Khoury.
News Courtesy: https://gulfnews.com/business/stop-spreading-rumours-on-uae-income-tax-warns-ministry-of-finance-1.1573122966775
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