Revealed: How VAT fared in UAE in its first year

It’s been a year since the UAE rolled out the value-added tax (VAT). It was a significant move that changed the way business is done in the country. Since January 1, 2018, consumers have been paying an extra 5 per cent on most goods and services, ending an era of a completely zero-tax regime. So, […]

Dubai firms to get 50% automatic discount on fines

Dubai: More businesses who will incur fines this year will get to enjoy a hefty discount. The Commercial Compliance and Consumer Protection (CCCP) sector of the Department of Economic Development (DED) announced that a new automated facility has been put in place for traders to avail themselves of a 50 per cent reduction on commercial […]

Mexico in plan to stimulate US border economy

Mexico City: President Andres Manuel Lopez Obrador launched an ambitious plan Saturday to stimulate economic activity on the Mexican side of the US-Mexico border, reinforcing his country’s commitment to manufacturing and trade despite recent US threats to close the border entirely. Mexico will slash income and corporate taxes to 20 per cent from 30 per […]

Trump goes after Pharma on Twitter as companies increase prices

Washington, D.C.: Just as the pharmaceutical industry’s biggest conference of the year is set to get under way, President Donald Trump took to Twitter to complain that drugmakers aren’t “living up to their commitments on pricing.” Despite talk about halting increases and lowering the price on some treatments, pharmaceutical companies on January 1 returned to […]