Is Dubai A Tax Free Country ? - INCOME TAX on Few Listed Businesses # Dubai Income Tax Facts


 

Income Tax in DUBAI

It is surprising to see income tax as being the number one source of Dubai’s tax since many of us know that Dubai is famous for not levying taxes. It is true that Dubai does not levy income tax on most of their citizens. This does not mean that everyone is exempt from tax. Some types of listed businesses have to pay tax. The most prominent business in the list is the oil business. Oil businesses are taxed at a mind-boggling 55% rate. This is a huge figure given that Dubai’s economy essentially runs on oil.

Also, Dubai taxes the income of foreign banks operating in their country. This tax rate is levied at a mediocre 20%. However, given the scale of transactions, Dubai government still earns a lot of revenue from these taxes.

Dubai has identified a few sectors which contribute a lion’s share to the taxes. Everybody else has been exempted!

Regards
Talreja & Talreja LLC
Headquarter in Dubai, U.A.E
Branch in Ahmedabad, India

INDIA - +91 6356000989
U. A. E - +971 50 475 7239

Website - www.talrejaandtalreja.com
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