Regarding the imposition of income tax on people, the United Arab Emirates has issued clarification.
It has been stated by the Undersecretary of the Ministry of Finance, Younis Al Khouri, that the United Arab Emirates does not intend to impose income tax on people.
The Ninth Conference of Undersecretaries of Finance Ministries in Arab Countries
During the ninth conference of the Under-Secretaries of Ministries of Finance in Arab Countries, which was organized by the Arab Monetary Fund, Al Khouri provided clarification regarding the position of the government. The gathering served as a forum for the discussion of a variety of fiscal and monetary policies in Arab countries, as well as important problems such as the impact of climate change and financial risks on public budgets from a financial perspective.
Exchange of experiences between Arab countries
During the meeting, there were representatives from the International Monetary Fund (IMF), the World Bank, and the Organization for Economic Cooperation and Development (OECD) contributing their expertise. The gathering, which lasted for two days, consisted of six discussion sessions and three conversation sessions, all of which were geared toward the exchange of experiences from Arab nations. These included the role of fiscal policy in integrating the informal economy as well as the risks associated with fiscal policy taken into consideration in light of diminishing growth rates and rising borrowing costs.
Income tax in Saudi Arabia
Over the past few days, Saudi Arabia has also reaffirmed that there are no intentions to implement an income tax.
