Dubai Consumer Mirror

Thursday, February 16, 2006

Taxes! What taxes?!

With all the talk on 'VAT in the GCC' these days, expect to see the news reports below in your local newspaper soon...


GCC Will Always Be Tax-Free Heaven, Says Official

Capitals, GCC - A prominent government official denounced today the on-going street talk on the probability of introducing a VAT (Value Added Tax) in the GCC. The official added that one of the main attraction factors for FDI's (foreign direct investments) from abroad to the region, is the tax-free policy that is been adopted for decades.

"I can't imagine the government doing anything to distort the economic development boom the region has been thriving on for the past 10 years at least," said the official. "People should not be alarmed as there will not be VAT or any form of taxes."

The spokesperson disregarded the rumor stating that the new VAT policy will be publicly announced today by describing the rumors as "baseless" and "not true".

According to the spokesperson, all speculation on VAT is a natural reaction to people's and business's concern toward their wellbeing. He reassured that no taxes will be rolled out anytime soon.


Meanwhile, in the local news section of same newspaper on the same day, only a handful of readers spotted the tiny 3cm by 1 column news strip:

Agencies: In order to better serve the public, [insert gov org here] announced today the roll-out of VAF: Value Added Fee. The new fee will be automatically deducted as a lump sum fee straight off [rent contact, electricity bill, visa application employer contact, bank account ...etc].



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