In the GCC, for the first time, the UAE and Saudi Arabia will launch VAT from January 1 while other countries will follow in the coming years.
The introduction of VAT will help the UAE government to generate an estimated Dh12 billion (around 0.8 percent of GDP) worth of revenue in the first year, which will increase to Dh20 billion (around 1.2 percent of GDP) in 2019.
Today the officials revealed the final rate of goods and commodities including food, fashion, healthcare, financial services and many more.
See the complete list here:
THE COMPLETE LIST OF CATEGORIES COMING UNDER VAT LAUNCHING FROM JANUARY 1 2018
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