A Ministry of Finance official in the UAE has reaffirmed the country’s stance on income tax.
The Ministry of Finance’s Undersecretary, Younis Al Khouri, has confirmed that the UAE has no intentions of implementing income tax for individuals. Al Khouri made this clarification during the 9th meeting of the Under-Secretaries of Ministries of Finance in Arab Countries, organized by the Arab Monetary Fund. This gathering served as a platform to discuss various fiscal and monetary policies in Arab nations, addressing crucial issues such as financial risks to public budgets and climate change.
Experts from the IMF, the World Bank, and the Organization for Economic Cooperation and Development (OECD) actively participated in the two-day meeting, which encompassed six discussion sessions and three dialogue sessions. The focus was on exchanging experiences among Arab countries, covering topics ranging from fiscal policy risks due to declining growth rates and high financing costs to the role of fiscal policy in assimilating the informal economy.
Saudi Arabia, in alignment with the UAE’s position, also recently emphasized that there are no plans to introduce income tax.
