Arab News, Sat, Mar 09, 2024 | Shaban 28, 1445
Dubai ruler issues law imposing 20% annual tax on foreign banks operating in emirate
Emirates:
The ruler of Dubai Sheikh Mohammed bin Rashid Al-Maktoum issued a law imposing
an annual tax of 20 percent on foreign banks operating in the emirate on
Thursday.
Banks which are licensed to operate in Dubai’s
international financial centre are exempt from the tax, Dubai Media Office
said.