Yes, Dubai has introduced corporate income taxes for the first time, set to come into effect in 2023. The UAE had previously been one of the few countries in the world without any form of taxation, but this is changing with the introduction of VAT in 2018 and now corporate income tax. These taxes are designed to help diversify the economy and make it less reliant on oil revenues. The tax rates in Dubai are relatively low, starting at just 3% for companies with taxable income of up to AED 500,000. The maximum rate is set at 20%, which will apply to companies with taxable income of over AED 100 million.