Tax-free no more: Saudi Arabia, UAE to roll out VAT in 2018:
"Saudi Arabia and the United Arab Emirates, which have long lured foreign workers with the promise of a tax-free lifestyle, plan to impose a 5 percent tax next year on most goods and services to boost revenue after oil prices collapsed three years ago.
The value-added tax, or VAT, will apply to a range of items like food, clothes, electronics and gasoline, as well as phone, water and electricity bills, and hotel reservations.
Elda Ngombe, a 23-year-old college graduate who’s looking for a job in Dubai, said there’s one specific purchase she’s planning before next year’s price hike: “Makeup, because I can’t live without makeup.”"
'via Blog this'
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