Sending remittances from the UAE will become slightly expensive as the currency exchange houses in the country confirmed that they would pass on the VAT charges on the remittance fee to the consumers from January 1, 2018. Vat tax UAE IN transfer money in India Pakistan Bangladesh HOW MUCH NEW CHARGE ? However, the industry executives believe that the rise in the fee due to VAT will not affect remittances from the country. "We do hundreds of thousands of remittances, so 5 per cent VAT on the (remittances) charges will be passed on to the consumers. Whether it's 80 fils or Dh1, it's going to be passed on," said Rajiv Ashok Raipancholia, treasurer, Foreign Exchange & Remittance Group (FERG), a body comprising businesses engaged in the money exchange and remittances industry. VAT in UAE: Will the middle class feel taxed? "For remittances, with amount up to Dh1,000, we charge Dh16 and for amount over Dh1,000, we charge Dh22 on average. But some exchange houses charge slightly lower in the range of Dh10 and Dh15," said Raipancholia, who is also CEO of Orient Exchange. Replying to a question on how much fee is collected by the currency exchange houses in the UAE, he said it's difficult to quantify because there is not enough information shared by the industry players. From January 1, 2018, the UAE government will impose 5 per cent VAT on certain goods and services under the GCC agreement. Implemented across more than 150 countries worldwide, the UAE's 5 per cent VAT is among the lowest in the world. Handy guide to VAT: What will change and what won't Mohammed Al Ansari, chairman, FERG, said that being a small chip of charges, it is not going to affect the amount that will be remitted because the tax will be levied only on the fee not on the amount to be transferred. "Five per cent VAT on the fees will range between 50 fils to Dh1 or slightly more per transaction. I assume it doesn't affect the volume of transfers. However, VAT will affect other businesses such as trade as 5 per cent is a considerable amount," he added. Meanwhile, he said VAT would not be levied on exchanging currencies by the residents or visitors. VAT in UAE: Complete coverage Adeeb Ahamed, secretary, FERG, said VAT is definitely a good thing but is it the right time is the question being asked by the business community. "I am sure the government must have thought over well. The leadership of the country has always thought well for the business community and this decision will also lead us to a good position. "You're talking about VAT on fees of around Dh1-2. It's not going to make a major impact as such," said Ahamed, who is also managing director of Lulu International Exchange. ISS VIDEO MAI APP LOG KO TRAFER MONEY PE KITNA 5 TAX AND VAT LAGEGA WO BATYE HU UMMID H APKO VIDEO PASAND AYE HOGA MORE UPDATE KE LIYE CHANNEL SUBSCRIBE JARUR KARE youtube subscribe link https://goo.gl/woitKA _____________________________________ facebook page link https://www.facebook.com/sflove143/ ____________________________________ instagram link https://www.instagram.com/fahim8187/ _____________________________________ twitter link https://twitter.com/farhanali837 _______________________________________ intro and intro music i got here http://www.mediafire.com/file/69lbm0y7j7txaz2/Intro+Template+17.rar teg use Vat tax UAE IN transfer money in India Pakistan Bangladesh HOW MUCH NEW CHARGE ? same tropic