The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
DUBAI / Emirates Business
A recent report by Global Innovation Index 2017 stated that UAE ranks first in Mena region in terms of innovation.
The United Arab Emirates has always adopted an innovative methodology, noting that innovation has become a future necessity for the development of world nations. And with the introduction of Value Added Tax (VAT) this year, UAE is all set to incorporate innovation across VAT legislations to be able to lead as a global VAT player.
“Innovation in the UAE is no more limited to boardrooms and meetings. It serves as a major pillar in advancing the country’s economic development and is at the heart of good government policies ai-med at making the UAE a le- ader in the innovation space. Furthermore, the country has aligned its practices to ensure that it is one of the most innovative nations in the world by 2021. To ensure that taxpayers are offered ease of convenie-nce, the Federal Tax Authority (FTA) has set up an e-services portal on its website.