Latest News

We understand the importance of availability, and we act on it.

UAE has No Plans to Tax Individuals


UAE has no plans to impose new taxes on individuals

Governments across the Gulf have been planning fresh ways to raise money as low oil and gas prices open up big deficits in state budgets. In 2018, the six members of the Gulf Cooperation Council plan to introduce value-added tax.

However, according to Younis Al Khoury, under-secretary of Finance Ministry, the UAE has no plans to impose new taxes on individuals and the government is not studying the introduction of more fees for services. Al Khoury’s remarks appeared to rule out, for now at least, the possibility of personal income tax in the UAE. Also, the approved federal budget for 2017 amounting to Dh48.7 billion ($13.3 billion) would not rely on new taxes or additional fees, or revenues from VAT. The budget will not be affected by changes in global oil prices, he added.

On corporate tax, Al Khoury did not elaborate on any possible changes but said that the ministry had for years been studying the social and economic impact of it, and was now taking those studies to the cabinet, with a view to building a comprehensive tax regime. Also, an initial step in developing the tax regime had been taken with President His Highness Shaikh Khalifa Bin Zayed Al Nahyan’s decree last week setting up a federal tax authority.

You might also like...
Borrowers and Credit Card Holders Beware!
On 4 May 2022, the Central Bank of UAE (CBUAE) raised the Base Rate applicable to the Overnight Deposit Facility (ODF) by 50 points. This decision was influenced after the U.S. Federal Reserve raised its target rate by 50 points in the face of inflation.
read More
Small Business Owners, Rejoice!
The UAE has always been an attractive hub for business owners from all over the world due to its tax-free commerce status. The government is now focusing on new beginnings and has set new rules to help local and small businesses thrive.
read More
Looking to Set-Up your Business? Don't Miss this Opportunity!
Check out this game-changing package which benefits investors in terms of paying the fees for their business setup on an ongoing monthly basis. Potential investors are required to sign a lease contract and move their operations into the free zone before the end of January 2022 to avail the offer!
read More
Thanks, got it!
Something went wrong, please try again.

Use our online calendar to set up your own appointment and connect to an elawyer for a consultation.