By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
businesspressbusinesspressbusinesspress
Notification Show More
Font ResizerAa
  • Home
  • Interview
  • News
  • Press Release
  • Event
  • Real Estate
  • Finance
  • Technology
  • Business
  • Startups
Reading: Reduce Complexity while Investigating new Taxes in the UAE and GCC: IMF
Share
Font ResizerAa
businesspressbusinesspress
  • Home
  • Interview
  • News
  • Press Release
  • Event
  • Real Estate
  • Finance
  • Technology
  • Business
  • Startups
  • Home
  • Interview
  • News
  • Press Release
  • Event
  • Real Estate
  • Finance
  • Technology
  • Business
  • Startups
Have an existing account? Sign In
businesspress > Blog > Business > Reduce Complexity while Investigating new Taxes in the UAE and GCC: IMF
BusinessStartups

Reduce Complexity while Investigating new Taxes in the UAE and GCC: IMF

BusinessPress
Last updated: August 11, 2025 2:52 pm
BusinessPress
Published December 23, 2024
Share
SHARE

By investigating additional levies, the United Arab Emirates and its neighboring Gulf Cooperation Council (GCC) nations might boost their incomes and further diversify their economies, according to the International Monetary Fund (IMF).

As the economy diversifies, investigating options like property taxes, luxury taxes, or environmental levies would further support revenue mobilization,” the Fund stated in its most recent report on the Gulf area.

The dramatic drop in oil prices over the past ten years spurred a wave of consumption tax revisions in the UAE and GCC. Bahrain, Oman, Saudi Arabia, and the United Arab Emirates are the four GCC nations that currently impose value-added tax (VAT), and all but Kuwait have embraced excises.

Similarly, Oman has declared its intention to impose an income tax, making it the first country in the region to do so. However, some nations have also declared that multinational corporations will be subject to a minimum local top-up tax of 15%.

Tax implementation is a difficult process that has taken decades in developed economies. Governments are still updating legislation and regulations around new taxes to ensure compliance and the installation of modern tax collection systems because oil-producing Gulf countries are relatively new to imposing taxes in comparison to the OECD and other larger economies.

Also Read:

Shaping the Global Educational Landscape: Prof. Dr. Sanjib Chakraborty

Create Your Coffee With Kontch’s E & E GmbH: Yanze Kontchou

 

You Might Also Like

In Africa, Russia is Replacing a Brutal Paramilitary with a Controlled Version. What is Putin Planning to Do?

First Half of 2024 sees Sharjah Police Assist in Amicably Resolving Financial Disputes Worth Dhs20 Million

Ukraine Demands a Truce Immediately After Putin Declares a Ceasefire for May 8–10

Israeli Attacks kill 35 People, According to Gaza Rescuers

UN Negotiations are in Chaos as Underdeveloped Countries turn down a Draft Climate Funding Agreement

Share This Article
Facebook Email Print
Leave a Comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recipe Rating




Follow US

Find US on Social Medias
Facebook X-twitter Instagram Linkedin
Popular News

UAE: Is it Legal and Halal to use Cryptocurrency? Expert Opinions

BusinessPress
BusinessPress
December 31, 2024
Is The Summer Heat Getting to You? Here Are Some Coping Strategies for You
Admissions at Kota-based Startup institutions fall by 31% in 2024:
DTC’s Revenue is Expected to Reach Dhs2.20 Billion in 2024, a 12% Rise
The Indian Market may see Reliance Jio’s IPO in 2025

Categories

  • Business
  • Crypto
  • Event
  • Fashion
  • Finance
  • Gaming
  • Health & Fitness
  • Interview
  • Lifestyle
  • Marketing
  • News
  • Opinion
  • Photography
  • Press Release
  • Real Estate
  • Science
  • Social Media
  • Software
  • Startups
  • Technology
  • Uncategorized
  • World
Reading: Reduce Complexity while Investigating new Taxes in the UAE and GCC: IMF
Share

About US

Business Press is an online media platform dedicated to providing valuable insights into the business world, covering a wide range of niches including technology, finance, marketing, health, artificial intelligence, events, software, cryptocurrency, and more. With a team of experienced journalists and industry experts, Business Press delivers the latest trends, analysis, opinion pieces, and exclusive interviews, catering to the needs of entrepreneurs, professionals, and business enthusiasts. The platform is committed to offering content that is informative, engaging, and thought-provoking, helping readers stay ahead in the ever-evolving business landscape.

Contact Now

sales@businesspress.online
+91.9899630849

© Business Press 2025. All Rights Reserved.
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?