Corporate income taxes are only applicable for foreign oil companies engaged in the exploration and production of oil and branches of foreign banks in the UAE. All other corporate entities are exempt from corporate income tax in practice. There are currently no personal income taxes applicable in the UAE. Where the UAE entity employs UAE nationals it is required to make social security contributions. There is no requirement for an employer of an expatriate or an expatriate employee to make any social security contributions.
The official currency of the United Arab Emirates is the UAE Dirham (AED).