Abu Dhabi – Mubasher: The UAE does not plan to impose taxes on income, said the UAE’s Ministry of Finance’s Undersecretary Younis Haji Al Khouri.
The ministry is conducting initial studies about applying taxes on the operating companies in the country, Al Khouri added.
Over the past period, the ministry had watched closely the economic and social impacts of applying taxes on firms.
In October, the UAE started putting into effect the selective tax imposed on commodities which are harmful to public health or the environment with different ratios.
The Federal Tax Authority (FTA) stated previously that it will start applying the value added tax (VAT) on 1 January 2018 by 5% on all products and services, with the exception of 100 basic commodities.
