Sam Alex
10
2023
Mar 22, 2023 11:04 AM

What do they do with the Tax amount?

What do they do with the Tax amount?

All Replies (10)
Alex T Sunny
8 months ago

used for the development of the country.


Nandana Nithiyanandan
8 months ago

Tax amount collected is used for country's welfare activities (social and economic development, infrastructure, education etc)


Amal philipose varghese
8 months ago

Tax amount is mainly used for the development of the nation 


Jerin P Thomas
8 months ago

Tax amount mainly used for economic graowth and development


HANNA SAYYID
8 months ago

Tax amount is used to promote economic growth and development of infrastructure facilities 


Josna Thomas
8 months ago

It is used for development and nation building processes 


Jenifer. Lovely
8 months ago

 Revenue generated from VAT is used by the UAE government for various purposes, including:


1. Government Operations: VAT revenue can be used to cover the operational costs of running government agencies, paying government employees, and maintaining administrative functions.

2. Public Services: Funds from VAT may go towards funding public services such as healthcare, education, and public transportation, which benefit residents and citizens.

3. Infrastructure Development: Some of the VAT revenue may be allocated to the construction and maintenance of infrastructure projects, including roads, airports, and utilities.

4. Economic Diversification: The UAE has been working on diversifying its economy beyond oil and gas. VAT revenue can support initiatives aimed at promoting non-oil sectors such as tourism, technology, and manufacturing.

5. Social Services: VAT funds may be used to finance social welfare programs and provide support to individuals and families in need.

6. Sovereign Wealth Fund: The UAE manages sovereign wealth funds, such as the Abu Dhabi Investment Authority (ADIA), which invests funds to generate returns for the government. VAT revenue could potentially be directed toward these investment portfolios.


Roshna
8 months ago

Tax collected is used for development of infrastructure facilities 


Jayadev Menon
8 months ago

Tax collected is utilised by the government for development and nation building processes 


Bryce Dsouza
10 months ago

Tax revenue, including VAT, is used to fund government spending on public services and infrastructure. In the UAE, tax revenue amounted to 5.5 percent of the country's total public revenue in 2018. The introduction of VAT in the UAE was intended to promote economic growth independent of oil revenues and increase the state's ability to continue providing educational and health services and public facilities. 



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