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The regional economy performed strongly in the fourth quarter of 2022 owing to a successful FIFA World Cup, a booming tourism season, and favorable trade agreements being signed by energy exporters. Furthermore, the quarter saw an influx of new capital as international and domestic investors opened new offices in the region.

In our January edition of GT’s Monthly Tax Newsletter, you can read the latest news updates affecting International Tax, Transfer Pricing and Indirect Tax in the UAE and across the GCC Region.

In our December edition of GT’s Monthly Tax Newsletter, you can read the latest news updates affecting International Tax, Transfer Pricing and Indirect Tax in the UAE and across the GCC Region.

On 9 December 2022, the UAE Ministry of Finance (MoF) released the Federal Decree-Law No.47 of 2022 on the Taxation of Corporations and Businesses which will be effective for Tax Periods commencing on or after 1 June 2023.

Heading towards the new year, food security remains on top of the agenda for the region, while enhancements in food tech, and the continued rise of meat and dairy alternatives providing have proved to be a nifty tool to combat lingering supply chain and labor shortages and addressing food security.

In our November edition of GT’s Monthly Tax Newsletter, you can read the latest news updates affecting International Tax, Transfer Pricing and Indirect Tax in the UAE and across the GCC Region.

In September 2022, the Ministry of Finance (MoF) released Cabinet Decision No. (85) of 2022 (the “Decision”) which details out the requirements and conditions for determining the tax residency of legal and natural persons in the UAE. Branches of foreign entities shall not be considered as tax residents in the UAE. The Decision acknowledges the parallel importance of the international agreements and stipulates that the provisions of the double taxation treaties could apply to determine the tax residency of a person. Further, the FTA may request any information from any government entities in the UAE in order to identify the tax residency of a person.

In our October edition of GT’s Monthly Tax Newsletter, you can read the latest news updates affecting International Tax, Transfer Pricing and Indirect Tax in the UAE and across the GCC Region.

M&A activity in the regional logistics sector continues to be buoyant, fueled by the proliferation of trade agreements, a growing expat population and the continuing e-commerce boom.

In our September edition of GT’s Monthly Tax Newsletter, you can read the latest news updates affecting International Tax, Transfer Pricing and Indirect Tax in the UAE and across the GCC Region.

Learn about the latest updates in Tax, Indirect Tax, and International tax in the UAE and GCC Region.

The introduction of VAT into the UAE will soon be completing 5 Years, however, many businesses have been unable to understand and appreciate the VAT zero-rating conditions for exports of goods.

Despite the recent global market downturn and recession fears, economic sentiment remains strong within the GCC region on the back of growth in the tourism and oil.

New research by Grant Thornton has revealed the majority of mid-market businesses have failed to take adequate steps to protect their operations against the threat of inflation.

Learn about the latest updates in Tax, Indirect Tax, and International tax in the UAE and GCC Region.

Spurred on by government initiatives and the emergence from COVID-19, the GCC IPO markets are now seeing unprecedented levels of activity, captivating institutional and retail investors alike.