Income Tax Guide Dubai
On 18th April 2009, the Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Makt oum, announced that there would be no income taxes in the Emirate. This news reassured many expatriates in Dubai who had been expecting the introduction of personal income taxes. A great many global nomads and expats want to move to Dubai for a variety of reasons such as the quality of life and safety there, but the foremost reason to move to Dubai is the fact that Dubai is a tax-free nation. There is still no income tax on income generated by expatriates in Dubai. As an added plus if you are buying items there is that there is no sales tax on the majority of goods and services.
Corporate Taxes for the UAE
Note that the UAE will be introducing a federal corporate tax on business profits for the first time, the Ministry of Finance announced in January 2022. This is a big deal for a nation that’s long attracted businesses from around the world thanks to its status as a tax-free commerce hub. Note that businesses in the UAE will be subject to the tax from June 1, 2023.
Expatriates, no matter where they live, should consult with an expat tax expert when living or working abroad.
