By: Ramy Sameeh
Abu Dhabi-Mubasher: The UAE is considering imposing charges on residents’ remittances, said the UAE’s Minister of State for Financial Affairs Sheikh Obaid Humaid Al Tayer.
On the sidelines of the first session of the Federal National Council, Al Tayer added that talks over the charges are still in their early stages and the country did not take any decision yet.
Residents’ remittances reached $19.3 billion in 2014, according to a report issued by the World Bank.
He added that the UAE has no intention to impose any taxes on individuals' personal income.
The country is still studying the corporate tax law, he said, adding that talks with local governments are ongoing yet no agreement was reached till now.
The UAE has not been cancelling any projects despite lower oil prices since mid-2015.
Translated by: Julian Nabil
