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By implementing the corporate tax, the UAE is displaying its dedication to securing long-term economic stability and expansion, thereby enhancing its appeal to investors who seek a dependable and optimistic business atmosphere. This move will allow new businesses in the UAE market to invest with more certainty and establish stronger credibility with their customers and other stakeholders.
Under this scheme, if people save Dh5,000 per month for 10 years, they could expect to receive Dh7,500 monthly for the subsequent 10 years. If they save Dh5,000 per month for five years, but choose to redeem within a period of the next 3 years, they could take home a monthly amount of Dh10,020 for three years.
The digital innovation platform, ‘Tax 10’, is designed to strengthen and encourage innovation, excellence, and professional creativity among its employees. The platform features more than 3,000 international government innovation practices, documented and classified into 15 different categories. It also aims to promote sustainable development and a culture of innovation.
This will benefit international investors as they can access Dubai Financial Market’s (DFM) diversified investment opportunities. The move will allow asset management companies to achieve operational and cost efficiencies. With the introduction of this, the UAE ensure that its capital market is on par with international peers.