UAE official says new corporate tax 'entrepreneur friendly'
Minister says tax will be offset by reduced business fees at event hosted by the DC-based Atlantic Council.
An official from the United Arab Emirates said today that the Gulf state’s new business tax will help entrepreneurs.
The Emirati minister for entrepreneurship said that the UAE government will reduce fees ahead of introducing a tax on business profit, which will help startups as well as small and midsize businesses.
“The corporate tax, if anything, is entrepreneur-friendly, and our intent is to reduce fees going forward,” Ahmad Belhoul Al Falasi said in response to a question from Al-Monitor.
Falasi spoke at a virtual event hosted by the DC-based Atlantic Council. The discussion focused on how Middle Eastern governments can help entrepreneurship in the region. Officials from Bahrain, Egypt and Jordan also participated.
