Will an increase in VAT have an effect on new business setup in Dubai? Will a decrease open the flood gates and see entrepreneurs setting up more businesses than ever before? Only time will tell…
At the start of 2018, the UAE introduced VAT at a rate of 5%. Initially, business owners were concerned with the impact this would have on their business.
As we approach the third quarter of this business year we reflect and ask the big three questions:
- Will the UAE see an increase or decrease in VAT?
- When will the change happen and at which rate?
- How has VAT influenced the number of investors looking to start a business in Dubai?
Let’s review VAT statistics and trends for Europe, North America and Asia-Pacific regions to see what could be in store for the UAE and the wider-GCC.