Dubai – Mubasher: Gold and jewelry sellers in the UAE offered to pay the value added tax (VAT) on the behalf of consumers in a bid to raise sales.

Jawhara Jewellery launched an initiative to pay the VAT on the behalf of gold buyers, said CEO Tamjid Abdullah, adding that these offers would impact the firm’s profits and raise the sales. 

Similarly, Pure Gold Jewellers said that it would bear the VAT burden instead of consumers and see the impact on sales over the coming period, said Karim Merchant, the CEO.

Bazelt Jewellery has presented the same offer in an effort to increase sales, especially after their drop on the back of the nation's VAT introduction as of January 2018.

The UAE  imposed the excise tax on the total bill of jewelry purchases to include gold’s price and the seller's commission, according to the Federal Tax Authority (FTA).