The Deanship of Student Affairs at Al Falah University organized a lecture entitled "Selective Taxation and Value Added Tax" for faculty members, administrative staff and students.
In the course of the lecture, Professor Al Mansouri addressed the expected effects and changes on workers and trade unionists in the economic sectors of the country, types of direct and indirect taxes, as well as examples of customs duties and selective tax which will be applied at the beginning of 2018 with a basic rate of 5%.
Dr. Sameer Al Barghouthi, Vice President for Academic Affairs, pointed out the importance of raising awareness about the new tax for citizens, workers, and employers, and clarifying the extent to which workers are affected.
VAT will be a new source of income for the emirate, contributing to ensuring the continuity of quality government services in the future. This income source will help drive the UAE's vision of reducing dependence on oil and other hydrocarbon products as key sources of revenue.