UAE planning to impose tax on expat remittances

29 Sep

DUBAI – The UAE is considering whether to impose a tax on the billions of dollars which foreign guest workers send back to their home countries every year, government and banking sources said.

It is unclear whether authorities will proceed with the tax, which would mark a major shift of policy, potentially raising costs in the economy and reducing the supply of foreign labor on which much of the UAE’s boom is based.

A circular discussing the proposal and requesting feedback was sent to some banks and financial institutions in the UAE, the sources said.

Full Story: http://www.saudigazette.com.sa

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