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UAE: VAT take exceeds expectations
In a positive economic development for the government, value added tax (VAT) takings have been stronger than expected. In a report that declared the UAE’s experience of VAT since January 2018 “credit positive”, ratings agency Moody’s Investors Service commented: “With non-oil sector growth still subdued, the strong VAT out-turn was largely attributable to higher than expected compliance with the new law.”
Credit value: 1
