Check Your Knowledge: Is There No Tax in Dubai?
By Jasreet Kaur
24, Aug 2024 03:20 PM
jagranjosh.com
Check your knowledge
Dubai is famous for its tax-free lifestyle, especially the absence of income tax. Tap to read more about the tax system in Dubai.
No Income Tax
Dubai doesn’t impose income tax on residents, making it an attractive destination for high earners.
Corporate Tax Introduction
While there’s no income tax, Dubai introduced a corporate tax on business profits starting in 2023.
Value Added Tax (VAT)
Dubai has a 5% VAT on goods and services, but essential items like food are often exempt.
Tourism Tax
Visitors pay a tourism tax on hotel stays and services, contributing to the city's revenue without direct income tax.
Real Estate Transactions
Property buyers pay a transfer fee, similar to a tax, when purchasing real estate in Dubai.
Excise Tax
Dubai imposes an excise tax on harmful goods like tobacco and sugary drinks, promoting healthier lifestyles.
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