According to Agni Skafidas, managing director at compensation and benefits expert Olam, many organisations are not sure about giving away extra payouts, as they are still adjusting to a new tax environment and are also cautious amid the current economic conditions.

“This could be due to the implementation of VAT and their desire to see how the company is performing during the challenging economic conditions,” Skafidas told Gulf News earlier.

Firoz Merchant, a philanthropist and founder/chairman of Pure Gold Group, said the UAE’s bonus payout is indeed a “thoughtful gesture” that will further boost consumer spending, but he did not  confirm whether or not he’s extending the same benefit to his staff.

“We thank the UAE leadership for boosting the morale of all federal government employees with a one-month salary bonus… The ‘Year of Zayed’ is all about giving and caring with a focus on the progress of the people,” he said.

“The initiative underlines the commitment of the UAE leadership to promote the genuine well-being of the community. This thoughtful gesture will further energise the market and boost customer spending, in turn enhancing the performance of the retail sector,” Merchant added.

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