The statistics released by the UAE Ministry of Finance (covering local and federal budgets) revealed a surplus of AED 49.42 billion in the government financial account during the first half of this year, compared to a surplus of AED 36.5 billion during the same period last year.
Revenues reached AED 249.87 billion last year, up 10.3 percent, or 23.36 billion dirhams, compared to 226.5 billion dirhams during the same period last year. Revenues for the first half were AED 104.76 billion for the first quarter and AED 145.11 billion for the second quarter.
The increase in revenues came as a result of an increase in taxes on oil extracting companies, natural gas producers, banks operating in the country, customs duties and other fees by about 19.26 percent from 96.16 billion in the first half of 2018 to 114.6 billion at the end of the first half of 2019. In addition to other revenues increase by 3.82% from 127.7 billion to 132.6 billion at the end of the first half of this year, while social contributions decreased by 1.34% from 2.58 billion dirhams to 2.55 billion.
Source (Al-Bayan newspaper, Edited)
