No plans for taxes on incomes or remittances, minister says

Government studying corporate taxes, Al Tayer says
Abu Dhabi: The UAE is not planning to start taxing individual incomes in the UAE, a minister of state said on Tuesday.
“There is no intention and no plans to impose taxes on the income of individuals in the UAE,”, Obaid Humaid Al Tayer, Minister of State for Financial Affairs, told reporters at the Federal National Council on Tuesday.
Al Tayer also dismissed any plans to impose taxes on remittances.
“The Government may not proceed with such a significant move before they are thoroughly studied in terms of their socioeconomic impacts.”
He added that there were studies in their initial stages, but there was no decision taken, nor a draft law made.
“Any studies will take into account the amount of these remittances and the socioeconomic impact on the UAE’s economy and foreign workers,” Al Tayer said.
However, the government is considering introducing corporate taxes, Al Tayer said.

Read more...
Source: gulfnews.com