The United Arab Emirates (UAE; Arabic: الإمارات العربية المتحدة al-ʾImārāt al-ʿArabīyah al-Muttaḥidah), sometimes simply called the Emirates (Arabic: الإمارات al-ʾImārāt), is a sovereign state in Western Asia at the northeast end of the Arabian Peninsula, in the south of the Persian Gulf, bordering Oman to the east, and Saudi Arabia to the south and west, as well as sharing maritime borders with Qatar to the west and Iran to the north. The sovereign absolute monarchy is a federation of seven emirates consisting of Abu Dhabi (which serves as the capital), Ajman, Dubai, Fujairah, Ras Al Khaimah, Sharjah and Umm Al Quwain. Their boundaries are complex, with numerous enclaves within the various emirates. Each emirate is governed by a ruler; together, they jointly form the Federal Supreme Council. One of the rulers serves as the President of the United Arab Emirates. In 2013, the UAE's population was 9.2 million, of which 1.4 million were Emirati citizens and 7.8 million were expatriates. The estimated population of the UAE in 2020 was 9.89 million.Islam is the official religion and Arabic is the official language. The UAE's oil reserves are the sixth-largest in the world while its natural gas reserves are the world's seventh-largest. Sheikh Zayed, ruler of Abu Dhabi and the first President of the UAE, oversaw the development of the Emirates and steered oil revenues into healthcare, education and infrastructure. The UAE's economy is the most diversified in the Gulf Cooperation Council, while its most populous city of Dubai is an important global city and international aviation and maritime trade hub. Consequently, the country is much less reliant on oil and gas than in previous years and is economically focusing on tourism and business. The UAE government does not levy income tax although there is a system of corporate tax in place and Value Added Tax at 5% was established in 2018.The UAE's rising international profile has led to it being recognised as a regional and a middle power. The UAE is a member of the United Nations, the Arab League, the Organisation of Islamic Cooperation, OPEC, the Non-Aligned Movement and the Gulf Cooperation Council.