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The UAE federal tax system is administered by the Federal Tax Authority (FTA), which was founded ahead of the 2018 implementation of a federal value added tax (VAT). The current standard VAT rate in the country is 5%. [2] [3] In January 2022, the UAE Ministry of Finance announced the implementation of a federal corporate tax starting June 2023. [4]
The Income Tax Department (also referred to as IT Department; abbreviated as ITD) is a government agency undertaking direct tax collection of the government of the Republic of India. It functions under the Department of Revenue of the Ministry of Finance. [5] The Income Tax Department is headed by the apex body Central Board of Direct Taxes (CBDT
Direct tax in the form of an income tax was introduced by Sir James Wilson in India in 1860 to overcome the difficulties created by the Indian Rebellion of 1857. [12] The organisational history of the Income-tax Department, however, starts in the year 1922, when the Income-tax Act [4], 1922 gave, for the first time, a specific nomenclature to various Income-tax authorities.
Direct tax in the form of an income tax was introduced by the British in India in 1860 to overcome the difficulties created by the Indian Rebellion of 1857. [5] The organizational history of the Income-tax Department, however, starts in the year 1922, when the Income-tax Act, 1922 gave, for the first time, a specific nomenclature to various Income-tax authorities.
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The new passports contain data to resolve name duplication, which is one of the biggest issues that existed with old passports. [6] Like passports of other states whose official language is written from right-to-left, the Emirati passport is similarly opened from the left-hand side. The cost of an Emirati passport in 2018 is AED 50 (US$13.60). [5]
The UAE has also introduced a new Green Visa for people with bachelors degrees who earn Dh15,000 (4,084 USD) or more per month. The five-year visa policy would offer greater stability and flexibility to middle-income workers in the education sector and attract new talent to the Emirates. [34]
The Emirati passport is one of five passports with the greatest ranking improvement in the 2006–2016 time period. [2] Emirati citizens do not need a visa to enter other Gulf Cooperation Council (GCC) countries and also have the right to work and reside in those countries. Similarly, citizens of other GCC states do not need a visa to enter the ...