According to the government-owned newspaper Al Ittihad, the UAE has drawn up plans to introduce the taxes, making it the first country in the Arabian Gulf to introduce a tax on consumption.
Value added tax would be levied at a higher rate on luxury goods, alcohol, and tobacco. Basic goods and essentials would be exempt from VAT, the newspaper's English-language sister paper, The National, reported Thursday. The proposals now have to be scrutinized by a number of government departments before becoming law, however .... http://www.cnbc.com
