Dubai private sector business activity surges

Dubai: Dubai’s business activity continued to rise at a strong pace in December, with the rate of increase quickening from November, according to Dubai Purchasing Managers’ Index data published by HIS Markit on Sunday. December data showed firms raised purchasing activity at the sharpest rate in four months, as some businesses sought to grow inventory […]

E-commerce to contribute significantly to VAT revenue

Dubai: E-commerce is expected to significantly bolster government revenues from value added tax (VAT) in the UAE, data on fast growing online sales indicate. The UAE introduced VAT in 2018 as part of its fiscal strategy to diversify the government revenues. VAT, essentially a consumption tax is universally applicable for all purchased including online purchases […]