{"id":46942,"date":"2024-01-24T16:34:59","date_gmt":"2024-01-24T12:34:59","guid":{"rendered":"https:\/\/graziamagazine.com\/me\/?post_type=articles&p=46942"},"modified":"2024-01-24T16:34:59","modified_gmt":"2024-01-24T12:34:59","slug":"uae-ministry-of-finance-income-tax","status":"publish","type":"articles","link":"https:\/\/graziamagazine.com\/me\/articles\/uae-ministry-of-finance-income-tax\/","title":{"rendered":"There Are No Plans For Income Tax In The UAE, Officials Confirm"},"content":{"rendered":"
\"Income
Photo: @visit.dubai Instagram<\/figcaption><\/figure>\n

The UAE has consistently proven that it is one of the best countries to reside in, with citizens and residents receiving a magnitude of benefits. One of the benefits is that individuals residing in the country are exempt from paying income taxes and that is not set to change anytime soon.<\/p>\n

Younis Al Khouri, the Undersecretary at the Ministry of Finance stated that the country has no plans to introduce income tax on individuals residing in the region. Al Khouri unveiled that during the ninth meeting of the Under-Secretaries of Ministries of Finance in the Arab Countries, organised by the Arab Monetary Fund, the government clarified their stance on the matter. The meeting served as a platform to discuss matters relating to fiscal and monetary policies in the GCC and focused on issues regarding financial risks on public budgets and climate change.<\/p>\n

During the gathering, experts from the IMF, the Organization for Economic Cooperation and Development (OECD) and the World Bank actively participated and shared their input to contribute to the welfare of the region. The meeting’s objective of the two-day gathering was to cover topics such as fiscal policy risks given the declining growth rates and high financing and also discuss the matter of how fiscal policy can contribute to integrating the informal economy.<\/p>\n

The UAE has recently launched a range of initiatives that are set to help the youth manage finances and improve the quality of life acrossing the nation. The Dubai Wedding Programme<\/a> was a new introduction that aims to aid young Emiratis plan out their big in a financially responsible manner while also coaching them on family and finance management.<\/p>\n

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— HH Sheikh Mohammed (@HHShkMohd) January 4, 2024<\/a><\/p><\/blockquote>\n