Expect 5 percent tax on petrol in UAE from January
December 19, 2017
Staff Report
Expect 5 percent tax on petrol in UAE from JanuaryDUBAI - Petrol or gasoline will be subject to five percent Value Added Tax starting on January 1, the director general of the Federal Tax Authority (FTA) said on Tuesday.
Khalid Al Bustamani told media that petrol would be taxed. He clarified, however, that crude oil and natural gas would not be taxed.
VAT is expected to be rolled out in the UAE and most countries in the GCC starting on January 1, 2018.
In Saudi Arabia, the General Authority of Zakat and Tax announced in November that a five percent VAT would be applied to petrol purchases.
5 frequently asked VAT questions, answered
Will tourists be able to claim VAT refund in UAE?
Yes. The FTA said tourists from the GCC will be able to claim a refund on taxed purchases they made while visiting the country. The process for this, however, has yet to be announced.
Will gold be subject to VAT?
Yes. VAT would be applied on the total value of the gold item.
Will food be taxed?
Yes. Tax will be applied on all food products, including staples like rice.
So which goods and services will not be taxed?
Public transport, commercial airlines, investment-grade precious metals, crude and natural gas, education and health care. This includes medicines and medical treatments, except cosmetic treatments.
Will salaries be increased to cope with VAT?
Salaries will not be increased to cope with VAT, said Obaid Humaid Al Tayer, Minister of State for Financial Affairs
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