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Press Dossier   News Category    Legal    Dubai ruler issues law imposing 20% annual tax on foreign banks operating in emirate

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. 

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