Land reclamation in the United Arab Emirates is built on a man-made island, was started in 1994 and completed in 1999. Ras Al Khaimah The emirate of Ras Al Khaimah has also joined the race to build new land reclamation projects. Such projects include Al Marjan Island and its Real Madrid Resort Island. The Palm Islands are located off the coast of The United Arab Emirates in the Persian Gulf and will add 520 kilometers of beaches to the city of Dubai. There have been numerous environmental and economic concerns regarding the various land reclamation projects in the UAE. For example, extraction of rock and sand harms
Taxation in the United Arab Emirates Taxation in the United Arab Emirates The United Arab Emirates is a federation of seven emirates, with autonomous emirate and local governments. The United Arab Emirates does not have any federal income tax. An income tax decree has been enacted by each Emirate, but in practice, the enforcement of these decrees is restricted to foreign banks and to oil companies. The UAE government implemented value added tax (VAT) in the country from January 1, 2018 at a standard rate of 5%. Most of the revenues have been generated from oil sales to other countries. UAE is looking to diversify from