The UAE will continue to have the lowest corporate tax rate in the world, which makes it easier for firms to comply with tax laws. Corporate taxation will boost the UAE's revenue, which is necessary to remain competitive in the international business and investment environment. The corporate culture would become more financially disciplined as a result, which would lead to good record keeping practices. In order to protect UAE start-ups and small enterprises while upholding worldwide standards of tax transparency, the UAE has proposed establishing a corporate tax.