New tax pushes Dubai inflation up moderately in January:
"Dubai consumer inflation rose only moderately in January when the United Arab Emirates introduced a 5 percent value-added tax, as authorities look to balance a need to increase state revenues with continued economic growth.
Last month’s imposition of VAT on the UAE’s low-tax economy, designed to strengthen state finances in the face of low oil prices, was one of the biggest policy shifts in years.
Dubai’s annual inflation rate to its highest level since last April, data showed on Thursday, but the rise to 2.7 percent, from 1.5 percent in December, was relatively modest."
'via Blog this'
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