Counting our blessings

Concerns about VAT were unfounded after all. We wonder what the fuss was about. It was business as usual, or even better on the first day. The tax-free status quo has been shaken. That’s the reality. Did people feel the pinch? It did prick some over-the-top budgets but those wise folks will learn to cope in time. The great news is that we will calculate our blessings more and complain less as the government uses our tax contributions for our welfare.

Some hand-holding by the authorities helped companies and individuals make the transition to the system painless, and we commend the government’s commitment in ensuring the new tax system went ahead despite other countries backing out. Naysayers said it would not happen here but the

UAE has a way of getting things done. It stayed the course — which made the difference, and the rest, as they say, is history.

Why did the UAE succeed when others failed to gather stream and backed out? Planning, awareness, transparency and flawless execution. People were first made aware of plans to diversify the economy — a solid start. It was inevitable and it had to be done for the larger good in the long term. Oil would not last a thousand years and working on finances for the future was critical — a bold decision, and disruptive, too.

There was more surprise than shock for shoppers on Monday. Soon, they will take it in their stride as they keep track of their bills. They will do the math, and be true partners in the country’s growth story through their contributions. VAT’s wrong with that?