Preparation of tax returns in United Arab Emirates
The UAE is indeed a unique taxation system. Citizens of the UAE are exempt from paying most of the traditional taxes, the list of taxes paid by residents of the country is also quite small. This creates a favorable investment climate, stimulation of attracting foreign investment and the growth of the economy as a whole.
Companies in the United Arab Emirates also pay small taxes in comparison with the rest of the world. Their specific size depends on the emirate in which the company operates. There are special economic zones with their own tax rules. Some companies have additional advantages and different preferences, which allows to further reduce tax deductions for specific lines of business.