UAE Facing Fiscal Deficit, Mulling IMF Tax Options
Sunday, 7th June 2015
The UAE is set to post its first fiscal deficit since 2009 because of lower oil revenues, but it can avoid any serious economic slowdown, the International Monetary Fund said after annual consultations with UAE authorities.
GCC Seriously Contemplates VAT in Wake of Oil Price Crunch
Monday, 11th May 2015
Officials of the six-nation Gulf Cooperation Council agreed at the weekend to keep working towards the introduction of a value-added tax around the region, in a sign that low oil prices may be strengthening support for the idea.