UAE: Low sales taxes please consumers

UAE: Low sales taxes please consumers
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Published December 19th, 2012 - 08:08 GMT via SyndiGate.info

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Consumer in the UAE enjoy the worlds lowest consumption taxes
Consumer in the UAE enjoy the worlds lowest consumption taxes
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Rajiv Saxena
,
European government
,
UAE government

Consumers [in the UAE] can comfort themselves with the news that they enjoy the lowest level of consumption and sales taxes in the world.

That's according to new research by UHY, the international accounting and consultancy network.

The firm says its experts compared the taxes levied on a typical basket of goods across 22 countries around the globe and concluded that the UAE government takes two per cent of the total price of the basket of goods through taxes.

That compares well to the 15.5 per cent of the price they said is taken by the average European government.

“With well below average consump­tion and sales taxes, the UAE’s consumer economy gets a very welcome helping hand from the government,” said Rajiv Saxena of UHY Dubai.

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© 2012 Al Sidra Media LLC

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