A member of the Federal National Council of the UAE proposes a tax on remittances exported by foreign workers.
- 80% of the UAE population is non-native, with the country relying heavily on foreign workers for unskilled labor.
- The rise in costs associated with such a tax could make the Arab world’s second biggest economy less attractive to foreign talent, though the Finance Minister says the socioeconomic impact has yet to be studied and is not currently under consideration.
- Employees transferred a net Dh45.1 billion ($12.3 billion) out of the country last year, an increase from Dh41.2 the year before.
Read more on this story at Gulf News.