Almost Half Of U.A.E. Residents Worried About Cost

by Forbes Middle East Forbes Middle East - Business News

Nearly 44.6% of U.A.E. residents are worried that they will no longer be able to afford cost of living with the implementation of the value added tax (VAT), a new survey has found.

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The findings were drawn from a poll of 200 U.A.E. residents in December 2017, conducted by Dubai-headquartered financial products comparison platform yallacompare.
The U.A.E. and Saudi Arabia began implementing VAT from January 2018, part of an array of fiscal reforms planned to help the regional governments to diversify their revenues streams. However, it has sparked concerns of inflation rising within the economy.