A British daily, Financial Times, reports that Dubai is offering tax relief to expatriates amid ongoing Iranian missile strikes on the UAE. According to the report, Dubai is providing incentives to prevent capital flight as the UAE economy suffers from the conflict. The tax relief requires expats to stay for 183 days to qualify for the benefits. The move targets ultra-rich billionaires and wealthy expatriates who are considering leaving Dubai due to safety concerns. While most Iranian missiles have been intercepted, debris from interceptions has caused damage, including at Dubai’s airport. Authorities have been swift in responding to incidents and ensuring citizen safety. The exodus of wealthy expats threatens Dubai’s economy, prompting the government to introduce these tax sops as an incentive for them to remain despite the security situation. Many Indian expats are also based in the UAE, and the relief measures apply to them as well.
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