Financial and Banking News
BUDGETS AND REVENUES
UAE Adopts New Measures to Raise Revenue
In an attempt to offset falling oil revenues, the UAE Government has decidedto increase some of the fees and taxes it levies over the next three to fiveyears. According to the UAE Minister of State for Finance and Industry, Mr.Ahmad Humaid al-Tayir, the contribution of the higher fees and taxes to thefederal budget could rise to around $1.09bn, as against the current $190.7mn....