TAX NATIVES
GLOBAL
OUR JURISDICTIONS —
UAE
LAST UPDATED 21/07/2023
AT A GLANCE
The United Arab Emirates (UAE) is a constitutional federation established in 1971, made up of Abu Dhabi (the capital of the UAE), Dubai, Sharjah, Ajman, Umm Al-Quwain, Ras Al-Khaimah, and Fujairah.
Bordered by Oman, Saudi Arabia and the Persian Gulf, the official language of the UAE is Arabic, but English is extensively spoken and used in business. The official currency is the United Arab Emirates dirham (AED).
The UAE is an attractive business location and has a very liberal trade system. It has the second largest economy in the Arab world, with a high per capita income and large annual trade surplus. Historically, the UAE has relied on oil exports as a significant part of its economy. But it’s gradually moving away from this now with a sizeable chunk of its gross domestic product (GDP) now coming from other areas.
Our local Tax Natives in the UAE can tell you everything you need to know about the ins and outs of your tax obligations there. Whether you’re buying a single property, or doing complex business deals, we’ll get you the advice you need. Just say the word and we’ll link you with a local expert who can answer all your questions.
THE HEADLINES
- The UAE headline corporate income tax rate can be up to 55% for upstream oil and gas activities. It’s 20% for branches of foreign banks, but it is 0% for most other companies
- There is no personal income tax rate in the UAE
- The standard VAT rate is 5%
Tax experts in the region
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