Income Tax In UAE - Spectrum Accounts
In Spectrum Accounts , The UAE has a progressive Income Tax in UAE system that taxes individuals and businesses on their taxable income. The tax rate for individuals varies according to their taxable income, while businesses are taxed at a flat rate of 25%. There are a number of additional taxes that companies must pay, including social security contributions, value-added tax (VAT), corporate tax, and customs duties. Companies operating in the United Arab Emirates (UAE) may be subject to various types of taxes depending on the nature of their business activities. Here are some of the main taxes that companies in the UAE may have to pay: Corporate income tax: The UAE does not impose federal corporate Income Tax in UAE on most types of businesses. However, certain oil and gas companies and branches of foreign banks are subject to corporate income tax. Value-added tax (VAT): VAT is a tax on goods and services that is charged at a rate of 5% in the UAE. Companies that have annual ...