Get ready for taxes, Christine Lagarde tells UAE and other Gulf nations | The National:
"It’s time for the Gulf to start taxing its citizens, Christine Lagarde told an audience of finance ministers at the Arab Fiscal Forum in Abu Dhabi today.
Calling tax powers “the lifeblood of modern states”, Ms Lagarde called on Gulf states to bring in VAT, place a “greater emphasis” on corporation tax, property tax, and excise duties. The region should also ready itself for personal income taxes, she said.
“Higher government revenues would create much-needed fiscal room for manoeuvre, and allow for more spending on … infrastructure, healthcare and education,” Ms Lagarde said."
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