The United Arab Emirates is a federation of seven emirates, with autonomous emirate and local governments. The United Arab Emirates does not have any federal income tax. An income tax decree has been enacted by each Emirate, but in practice, the enforcement of these decrees is restricted to foreign banks and to oil companies.
The UAE government implemented value added tax (VAT) in the country from January 1, 2018 at a standard rate of 5%.
Most of the revenues have been generated from oil sales ...
