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Many businesses in the UAE have historically enjoyed zero income tax on their profits. This, however, is set to change, with the Ministry of Finance (MOF) announcing on 31 January 2022 that federal corporate income tax (CIT) will be introduced in the UAE.
VAT was introduced in the United Arab Emirates on 1 January 2018. The general VAT rate is 5% and applies to most goods and services, with some goods and services subject to a 0% rate or an exemption from VAT (subject to specific conditions being met).
The Wage Protection System (WPS) is a government policy in the UAE through which organizations provide information about employees and salary information to the Ministry of Labor. This disclosure ensures that employees are paid according to statutory requirements.
There is no social security scheme available to expatriates. It is mandatory for all employers to provide medical insurance to their employees. It is compulsory for the employer to register a UAE national/GCC Nationals with the General Pension and Social Security Authority (GPSSA) after one month of hiring the employee.
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