More than a week after the introduction of VAT, reactions among Abu Dhabi's corner shop owners have been mixed.
Half of the eight shops visited by The National on Monday said sales had come down in the first week. The rest said the situation was the same or it was too early to say since the five per cent tax was added to the price of goods and services.
A week ago, The National visited a selection of the capital's corner shops to gauge the mood ahead of the landmark move by the UAE to bring in VAT. Mohammed Shameam, a manager of one Baqala in the Al Nahyan area, had speculated that it could precipitate a slowdown in sales. On Monday, Mr Shameam said there had been a small impact over the past week.
“Everybody is talking about it. Cigarettes and [soft drinks] have already gone up in price. Some people now say: how can they afford another 5 per cent?” he said.
“Some salaries have not increased and expenses are going up so they are saying that. But largely it’s OK.”
At another corner shop close to Al Mariah Mall, the manager who did not wish to be named, said business was down over the past week. “Yes, of course. There has been less business,” he said.
“People are buying less and it’s not like before. Instead of buying two litres of milk, people are buying one litre,” the manager said.
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Read more:
Abu Dhabi's corner shops brace for the introduction of VAT
Sheikh Mohammed: 70% of VAT revenue to be used in local projects
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He also said this was happening across the board. For example, some people were now purchasing single-serving sachets of coffee instead of jars.
“People know about it and the reaction is mixed. The tax is good for the country though,” he said.
VAT came into force on January 1. And its introduction is expected to boost revenues by as much as Dh12 billion in the first year alone, according to the Minister of Economy. School fees, healthcare, residential rent and public transportation are currently exempt. However, some analysts have speculated that it could result in an increase in the average cost of living as much as 2 per cent.
Two other corner shops in the Khalidiyah area also reported that sales were slightly down.
“It’s a bit less busy than usual,” said one shop worker, who also did not want to be identified. “Of course, everybody is talking about it.”
Over the past few days, there have been complaints about rounding up of prices. But Abu Dhabi's Department of Economic Development clarified on Thursday that shops in the emirate were allowed to round up the cost of products by 20 fils. Many of the smaller shops are rounding up or down on a case by case basis, and as The National reported on Sunday – most of the larger chains have a policy of rounding up or down to the nearest 25 fils, 50 fils and 75 fils.
The Suhaila baqala close to the Russian embassy was also surveyed by last week. There, manager Mohammed Jamal predicted VAT could impact sales for the first month or two but that people would adapt.
“All the customers know about the VAT,” he said on Monday.
“There has been no impact on sales so far. In rare cases, some lower income workers have had problems and people are asking for their invoices. But generally there are no problems. No complaints. It’s the law of the Government.”
Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, said on Sunday that 70 per cent of VAT takings would be reinvested in local services. And Mr Jamal is hopeful that his business could benefit from the tax.
“We are hoping now that perhaps the business will grow because the Government might bring new projects. People will come for jobs and there will be good business in the future.”
The%20specs
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How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
SPECS
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Engine: Long-range single or dual motor with 200kW or 400kW battery
Transmission: Single-speed automatic
Max touring range: 620km / 590km
Price: From Dh250,000 (estimated)
Killing of Qassem Suleimani
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Director: Hwang Dong-hyuk
Stars: Lee Jung-jae, Wi Ha-joon and Lee Byung-hun
Rating: 4.5/5
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Company%20Profile
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UAE currency: the story behind the money in your pockets
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Starring: Rose, Jisoo, Jennie, Lisa
Directors: Min Geun, Oh Yoon-Dong
Rating: 3/5
Fund-raising tips for start-ups
Develop an innovative business concept
Have the ability to differentiate yourself from competitors
Put in place a business continuity plan after Covid-19
Prepare for the worst-case scenario (further lockdowns, long wait for a vaccine, etc.)
Have enough cash to stay afloat for the next 12 to 18 months
Be creative and innovative to reduce expenses
Be prepared to use Covid-19 as an opportunity for your business
* Tips from Jassim Al Marzooqi and Walid Hanna
Killing of Qassem Suleimani
Ticket prices
- Golden circle - Dh995
- Floor Standing - Dh495
- Lower Bowl Platinum - Dh95
- Lower Bowl premium - Dh795
- Lower Bowl Plus - Dh695
- Lower Bowl Standard- Dh595
- Upper Bowl Premium - Dh395
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A%20MAN%20FROM%20MOTIHARI
%3Cp%3E%3Cstrong%3EAuthor%3A%20%3C%2Fstrong%3EAbdullah%20Khan%0D%3Cbr%3E%3Cstrong%3EPublisher%3A%20%3C%2Fstrong%3EPenguin%20Random%20House%3Cbr%3E%3Cstrong%3EPages%3A%20%3C%2Fstrong%3E304%0D%3Cbr%3E%3Cstrong%3EAvailable%3A%20%3C%2Fstrong%3ENow%0D%3Cbr%3E%3C%2Fp%3E%0A
THE BIO
Ms Davison came to Dubai from Kerala after her marriage in 1996 when she was 21-years-old
Since 2001, Ms Davison has worked at many affordable schools such as Our Own English High School in Sharjah, and The Apple International School and Amled School in Dubai
Favourite Book: The Alchemist
Favourite quote: Failing to prepare is preparing to fail
Favourite place to Travel to: Vienna
Favourite cuisine: Italian food
Favourite Movie : Scent of a Woman
Conservative MPs who have publicly revealed sending letters of no confidence
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Farasan Boat: 128km Away from Anchorage
Director: Mowaffaq Alobaid
Stars: Abdulaziz Almadhi, Mohammed Al Akkasi, Ali Al Suhaibani
Rating: 4/5
COMPANY%20PROFILE%20
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Moon Music
Artist: Coldplay
Label: Parlophone/Atlantic
Number of tracks: 10
Rating: 3/5
COMPANY PROFILE
Name: HyperSpace
Started: 2020
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
Based: Dubai, UAE
Sector: Entertainment
Number of staff: 210
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
COMPANY PROFILE
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Total funding: Self funded
JOKE'S%20ON%20YOU
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Race results:
1. Thani Al Qemzi (UAE) Team Abu Dhabi: 46.44 min
2. Peter Morin (FRA) CTIC F1 Shenzhen China Team: 0.91sec
3. Sami Selio (FIN) Mad-Croc Baba Racing Team: 31.43sec
The specs
Engine: Dual 180kW and 300kW front and rear motors
Power: 480kW
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Transmission: Single-speed automatic
Price: From Dh359,900 ($98,000)
On sale: Now
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Engine: 6.75-litre twin-turbocharged V12 petrol engine
Power: 420kW
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A timeline of the Historical Dictionary of the Arabic Language
- 2018: Formal work begins
- November 2021: First 17 volumes launched
- November 2022: Additional 19 volumes released
- October 2023: Another 31 volumes released
- November 2024: All 127 volumes completed
The biog
Favourite films: Casablanca and Lawrence of Arabia
Favourite books: Start with Why by Simon Sinek and Good to be Great by Jim Collins
Favourite dish: Grilled fish
Inspiration: Sheikh Zayed's visionary leadership taught me to embrace new challenges.
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