No new taxes yet

The Undersecretary of the Ministry of Finance, Younis Haji Al -Khoury, confirmed that no other taxes have yet been announced that the ministry intends to impose during the coming period.

“In the UAE, we deal with fees and taxes in a very transparent way,” Khoury said in response to a question regarding the possibility of an income tax study. ” Directly and touched on 3 types of them, which included value -added and selective tax and then the corporate tax. “

Khoury added to “Emirates Today” on the sidelines of the “General Finance of the Arab States”: “Until now it has not announced any other type of tax in the UAE.”

Regarding the corporate tax, Khoury said that the ministry is considering providing a set of new tax incentives to support research and development activities, adding that the incentives provided by the UAE are the criteria that we look at in the future with regard to corporate tax.

He referred to the fair application of policies to everyone, including improving and developing collection tools and the importance of reducing these costs on private sectors and companies so that they can have a greater profit and can spend on some vital sectors, including research and development sectors.

And that the policies and legislations of the UAE have always been a pioneer to prepare the private sector in order to adapt more to government measures.

He explained that the UAE government was also a forerunner in its adoption of many innovative solutions, including artificial intelligence and its introduction in some government measures. The government also adopted many technical systems that facilitated its dealings with private sector companies.