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12/25/2017                  FNC member asks government to place cap on rising car prices ahead of VAT  - The National

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        FNC member asks government to place


        cap on rising car prices ahead of VAT



        Move comes ahead of 5 per cent sales tax from January 1



                 Haneen Dajani
                 December 5, 2017
                 Updated: December 5, 2017 08:46 PM

               5


        shares

        Concerns were raised over the cost of buying a new car. Jaime Puebla / The
        National

        The  government  has  been  asked  to  place  a  cap  the
        rising cost of buying a car ahead of the introduction of

        VAT next month - when vehicles with be hit with a 5 per
        cent price hike.

        Federal  National  Council  member  Saeed  Al  Remeithi

        raised  the  issue  with  the  Minister  of  Economy  on
        Tuesday, during a packed session that touched on the

        cost of living, insurance and medical treatment.

        The  youngest  member  of  the  chamber  referred  to  an
        unspecified report that he said found the UAE has the

        steepest car prices in the Gulf.

        He said a cap, like that set out to ensure rental prices

        could  only  rise  by  a  certain  amount  and  no  more,
        would be fair for consumers.

        “Today  there  is  a  lot  of  talk  that  the  UAE  has  the

        highest prices in the Gulf, and with Value Added Tax...
        there is a fear of inflation," he said.


        "This is a trend that will have many affects on society."

        _____________

        Read more on tax in the UAE:


      https://www.thenational.ae/uae/fnc-member-asks-government-to-place-cap-on-rising-car-prices-ahead-of-vat-1.681764  1/4
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