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United Arab Emirates Business Report

General information
Source: The World Factbook - Central Intelligence Agency
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Population
6,072,475 (July 2017 est.)
GDP (PPP)
$686.8 billion (2017 est.)

GDP growth rate
0.5% (2017 est.)

Low and slowing from healthy rates of more than 3% in the previous years

GDP (PPP) per capita
$67,700 (2017 est.)

Very high

Local currency
Emirati dirham (AED)

Pegged to the USD

Financial stability (Public debt)
19.5% of GDP (2017 est.)

Low

Inflation
2% (2017 est.)

Medium, healthy rate

Language
Arabic

Persian, English, Hindi, Urdu

Corruption perception index (Source: Transparency International)
21/180

Low level of corruption

Duties and tax
Source: PwC World Tax Summaries 2017-2018
VAT

5% standard VAT rate and applicable to most goods and services, with some goods and services subject to a 0% rate or an exemption (subject to specific conditions being met).
Corporate Tax

There is no corporate income tax Oil and gas companies might be taxed up to 55%
Duties

Generally, a customs duty of 5% is imposed on the cost, insurance, and freight (CIF) value of imports. Other rates may apply to certain goods, such as alcohol and tobacco, and certain exemptions may also be available.

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