News Archive 2018 | Page 5 of 12

Dubai and the other emirates of the UAE are widely known for their favorable business environment, advanced infrastructure, and competitive tax system. For this reason, many international entrepreneurs and investors consider the UAE a jurisdiction for starting a business...

Many people find it surprising that there are essentially no taxes in the United Arab Emirates. Income tax, VAT, social contributions and number of other taxes – the vast majority of people from other countries pay up in total to 50% of their income (and sometimes even more) to the country's budget in the form of various taxes...

Nowadays, the tourism sector makes the significant contribution to the region's GDP, according to the Department of Tourism and Commerce in Dubai, the total volume of this sector is $29.6 billion per year...

When Dubai is mentioned, many people still think of beaches, palm trees, and skyscrapers. However, in recent years, the city has firmly secured a different status – a global hub for startups, technology companies, and innovative businesses...

The United Arab Emirates has implemented a value-added tax (VAT) refund system for foreign tourists as part of the broader tax reform introduced alongside VAT. The VAT refund mechanism is designed to enhance the UAE’s attractiveness as a tourist destination and to ensure transparent tax administration...