Posted inBuilding Wealth in UAE
Maximize Savings in UAE’s Tax-Free System
The UAE has seen significant advancements in its tax system, including processing 2.7 million tourist tax refund requests in H1 2024, a 35.25% increase from the previous year. The country is also introducing a 15% Domestic Minimum Top-up Tax for multinational enterprises with €750 million or more in global revenues, effective January 1, 2025, aligning with OECD/G20 standards. Additionally, the Federal Tax Authority has enhanced its digital VAT refund system, expanding retail store links and self-service kiosks, facilitating quicker and more efficient tax refund processes[1][3][5].
