The Business Times
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Saudi Arabia, UAE introduce VAT in a Gulf first

Published Mon, Jan 1, 2018 · 09:50 PM

    Dubai

    SAUDI ARABIA and the United Arab Emirates introduced value-added tax from Monday, a first for the Gulf which has long prided itself on its tax-free, cradle-to-grave welfare system.

    Saudi Arabia compounded the New Year blow for motorists with an unannounced hike of up to 127 per cent in petrol prices with immediate effect from midnight.

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