Over the years, the UAE has become a global business hub, attracting professionals and companies from across the world. The major factors for this transformation include global connectivity, political and economic stability, world-class infrastructure, business-friendly policies and regulations, a high quality of life, and a tax-friendly environment.
However, if you are operating a business in Dubai or earning income from multiple countries, you may be required to pay tax on the same income in two different countries, which can be a major burden. This phenomenon is called Double Taxation, and to avoid such taxation scenarios, the UAE government has signed the Double Taxation Avoidance Agreements (DTAAs) with over 140 countries.
In this blog, we’ll take a thorough look at everything you need to learn about DTAAs in the UAE, how they work, their benefits, and their importance for businesses and individuals.