Global Look Ahead: VAT Trends and Its Implication in the UAE
Value Added Tax (VAT) is deemed an effective tool to improve economic performance, direct resources and control pace of growth in line with development requirements. The global experience demonstrates that the use of VAT has contributed to the upliftment of several economies and in curbing higher consumption as well as the resulting negative effects. Since its inception VAT has been viewed as an opportunity to make improvements in the jurisdiction and its economy.