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UAE introduces first-ever tax on business profits

The tax, which was spurred by the Organization for Economic Cooperation and Development, will not apply to profits below a certain threshold in an effort to support small businesses.

Abu Dhabi's skyline across the Gulf waters in the Emirati capital on Jan. 24, 2022.
Abu Dhabi's skyline across the Gulf waters in the Emirati capital on Jan. 24, 2022. — KARIM SAHIB/AFP via Getty Images

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