Which country known as a tax haven has introduced lsquo Federal Corporate Tax rsquo for the first ti...........

Current GK ( Master) International Affairs

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Which country known as a tax haven, has introduced ‘Federal Corporate Tax’ for the first time?

USA

UAE

China

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Explanation:

Answer: [3] UAE
Notes: The United Arab Emirates has announced to introduce a 'Federal Corporate Tax’ from mid-2023, as per its Finance Ministry. UAE will tax business profits over 375,000 AED (USD 102,000) at 9.0 percent from June next year. There are no plans to introduce personal income tax or capital gains tax from real estate or other investments. It also announced that the Tax incentives in the UAE's free-trade zones will continue.