The country’s Minister of State for Financial Affairs, Obaid Al Tayer ,confirmed that UAE government has no intention to increase the current rate of Value Added Tax and Excise tax rate.
According to him that there aren’t any studies or any legislation regarding introducing income tax.
He pointed, however that the UAE’s Ministry of Finance is still working on introducing the corporate tax. He said that, at the time being, they are not about to implement the Corporate tax but we are studying the possible tax framework. They are in the “early stages of studying “the [corporate] tax legislation.
Regarding the impact of the excise tax which was implemented across UAE last 1st of October 2017, the minister said that it was too early judge as the government will know how much is the revenue that the tax brought by the end of the year.
