Dubai – Mubasher: A value-added tax of 5% will be applied on fuel, starting from 1 January 2018, director-general of the UAE’s Federal Tax Authority (FTA) Khalid Al Bustani told Al Khaleej newspaper.
The 5% VAT will be imposed on oil derivatives sold to consumers in fuel stations, Al Bustani highlighted.
On Tuesday, the Emirati Minister of Finance stressed that the VAT is set to be applied on 1 January 2018.
The UAE is expected to gain about AED 10 billion to AED 12 billion revenues from the VAT next year.
