The tax-free image does not entirely reflect reality. Companies pay an annual license fee, which can be considered a hidden tax. The sale of goods, services, and work is generally subject to a 5% VAT. Additionally, from July 1, 2023, a corporate tax (9%) will be introduced, applicable to Mainland companies and Free Zone companies generating income on the UAE mainland. Currently, corporate tax is paid by two categories: oil and gas companies, and branches of foreign banks. Excise taxes are also imposed on specific goods (tobacco, electronic cigarettes - 100%, carbonated drinks - 50%), property transfer tax (varies by emirate, e.g., in Dubai - 4%), and customs duties (5%).