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The United Arab Emirates[ c ] (UAE), or simply TheEmirates, [ d ] is a country in West Asia, in the Middle East, at the eastern end of the Arabian Peninsula. It is a federal, elective monarchy composed of seven emirates, with Abu Dhabi as its capital. [ 16 ] It shares land borders with Oman to the east and northwest, and with Saudi Arabia to the southwest; as well as maritime borders in the ...
The UAE economy is heavily reliant on revenues from petroleum and natural gas, especially in Abu Dhabi. In 2009, more than 85% of the UAE's economy was based on the oil exports. [ 15 ][ 16 ] In 2011, oil exports accounted for 77% of the UAE's state budget. [ 17 ] In recent years, there has been some economic diversification, [ 18 ] particularly in Dubai. [ 19 ] Abu Dhabi and other UAE emirates ...
The United Arab Emirates is a federation of seven Emirates, with autonomous federal and local governments. The UAE has historically been a low-tax jurisdiction. [1] The federal government and local governments are entitled to levy taxes on citizens and companies. The federal government currently levies a value added tax, corporate income tax, and excise taxes. Some emirates levy property ...
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