The UAE Ministry of Finance announces an update of tax rules for the country residents

By decision of the Ministry, the UAE business owners will be obliged to pay corporate tax provided that their business turnover is over 1 million dirhams ($ 272 thousand) per year.

At the same time, personal income from real estate property, wagework and personal investments shall not be subject to tax.
This decision shows that the country is focused on providing support to small businesses and creating an attractive business environment.