Monday 24 February 2014

UAE Has No Plans To Tax Individuals – Finance Minister » Gulf Business

UAE Has No Plans To Tax Individuals – Finance Minister » Gulf Business:



"The UAE has no immediate plans to impose tax on individuals, Sheikh Hamdan Bin Rashid Al Maktoum, Dubai’s deputy ruler and Minister of Finance has confirmed.



However, the ministry has been conducting studies on the economic effects of levying taxes on companies, official news agency WAM quoted him as saying.



It is also mulling the imposition of fees for newly introduced services at federal ministries and bodies, Sheikh Hamdan said.



The ministry is also considering imposing taxes on certain harmful goods such as tobacco products. “The ministry is committed to announcing any taxes once an agreement is reached with relevant and concerned parties,” he said."



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