Tax Bases
This tax base might be charged when you go on holiday.
What is Tourism Tax?
Abdulla earns 50,000 dirhams more than Omar but he pays a lower percentage of tax. His country uses this tax structure.
What is regressive tax?
Governments use taxes to pay for these
What are public services?
We pay this tax base every time we go shopping
What is Sales Tax?
People who earn more should pay a higher rate of tax than those who earn a little is the philosophy behind this tax structure.
What is progressive tax?
If someone earns less than this number, they do not have to pay any tax.
What is a tax free threshold?
A tax base for companies
What is Corporate Tax?
Whether you buy a pen or a sports car, you pay tax based on this structure.
What is proportional tax?
The rate is set at 9% in the UAE.
What is corporate tax?
If someone dies and leaves you money or something valuable, you might have to pay this tax
What is inheritance tax?
A tax structure which puts income into different groups.
Tax brackets
What is profit?
This tax base is frequently charged in tax brackets
What is personal income tax?
The most common structure to calculate personal income tax in the world
What is progressive tax?
Paying tax will reduce this for a company
What is gross profit?