Market Taxation Guide - Dubai (Nasdaq Dubai)

19.04.2022

This Market Taxation Guide Dubai (Nasdaq Dubai) provides the following details:

  • Reference information about all taxes applied at source, to securities deposited in Clearstream Banking1; and
  • Instructions for obtaining relief at source or a refund of withholding tax, where these are available, through Clearstream Banking.

Additional and improved tax information and procedures that are available will be included on an ongoing basis.

Important note:
This Market Taxation Guide (including any attachments and other links) is for informational purposes only and is not intended and should not be considered to be legal advice on any subject matter. Readers of this Market Taxation Guide, whether customers or otherwise, should not act or refrain from acting on the basis of any information included in this Market Taxation Guide without seeking appropriate legal or other professional advice.

Withholding tax

The Dubai International Financial Centre (DIFC) is a tax-free zone within Dubai with tax exemption until 2055. Nasdaq Dubai is located within the DIFC and there are no taxes on corporate action benefits for Nasdaq Dubai securities.

Debt securities

Holding restriction?

Withholding
tax rate

Relief at
source

Quick
refund

Standard
refund

Yes

0%

Selected corporate bonds

N/A

N/A

N/A

Equities

Holding restriction?

Withholding
tax rate

Relief at
source

Quick
refund

Standard
refund

Yes

0%

Equities

N/A

N/A

N/A

Types of securities

The eligible securities issued in Dubai (Nasdaq Dubai) are as follows:

  • Equities;
  • Selected corporate bonds;
  • Depository Receipts (DRs);
  • Exchange Traded Funds (ETFs).
  • REITs

Capital gains tax

Typically, there is no capital gains tax withheld through Clearstream Banking on securities held in Clearstream Banking. However, Capital gains tax may be payable on specific gains. Clearstream Banking does not assist in this regard. Please consult your tax advisor for further information.

Stamp duty

There is no stamp duty withheld through Clearstream Banking on securities held in Clearstream Banking. Stamp duty may however be payable on specific transactions. Clearstream Banking does not assist in this regard. Please consult your tax advisor for further information.
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1. “Clearstream Banking” refers collectively to Clearstream Banking S.A. and Clearstream Banking AG (for Clearstream Banking AG customers using Creation accounts).