Tag: UAE scrap exports

UAE to Implement VAT in Jan’18; How will it Impact Ferrous Scrap Market ?

Dec 27, 2017

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by

Nishtha Mukherjee

in Uncategorized

The UAE Minister of State for Financial Affairs, His Excellency Obaid Humaid Al Tayer, has stated that the UAE will implement VAT at the rate of 5% on 1 Jan’18. It is applicable to range of items including ferrous scrap. VAT is a tax on consumption and is levied on the price charged to end…