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The Ministry of Finance (MoF) ( Arabic: وزارة المالية) is the ministry of the federal government of United Arab Emirates which is responsible for public finances. The ministry's objective is to promote fiscal planning and fiscal sustainability of the federal government of the United Arab Emirates. The ministry is located in Abu ...
Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum ( Arabic: مكتوم بن محمد بن راشد آل مكتوم; born 24 November 1983) is an Emirati royal and politician who serves as minister of finance of the United Arab Emirates, deputy ruler of Dubai [1] and chairman of Dubai Media Incorporated.
The Cabinet of the United Arab Emirates, or Council of Ministers ( Arabic: مجلس الوزراء ), is the chief executive body of the United Arab Emirates (UAE) federal government. The cabinet consists of federal government ministers, and is led by the prime minister of the United Arab Emirates. Although not stated in the Constitution of the ...
The United Arab Emirates is a high-income developing market economy. The UAE's economy is the 4th largest in the Middle East (after Turkey, Saudi Arabia and Israel ), with a gross domestic product (GDP) of US$415 billion (AED 1.83 trillion) in 2021-2023. [ 5] The UAE economy is heavily reliant on revenues from petroleum and natural gas ...
Obaid Al Tayer. Obaid Al Tayer ( Arabic: عبيد الطاير; born October 1952) is an Emirati businessman and politician. He is the Chairman of Al Tayer Group [ 1] and served as cabinet member and Minister of State for Financial Affairs in the United Arab Emirates in the Ministry of Finance. [ 2] He served in the cabinet until September 2021.
A ministry of finance is a ministry or other government agency in charge of government finance, fiscal policy, and financial regulation. It is headed by a finance minister, an executive or cabinet position . A ministry of finance's portfolio has a large variety of names around the world, such as "treasury", "finance", "financial affairs ...
Sheikh Hamdan bin Rashid Al Maktoum ( Arabic: حمدان بن راشد أل مكتوم, Ḥamdān bin Rāšid Āl Maktūm; 25 December 1945 – 24 March 2021) [ 3] was an Emirati politician, the deputy ruler of Dubai and the minister of finance and industry of the United Arab Emirates (UAE). He was the second son of the late ruler Rashid bin ...
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]