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Foreign Account Tax Compliance Act (FATCA) and Common Reporting Standard (CRS) reporting is an annual compliance requirement in the UAE. For the financial year ended 31 December 2021 (FY21), relevant businesses and entities are required to submit their FATCA and CRS filings with the Ministry of Finance (MoF) via the MoF FATCA/CRS Portal, unless specified otherwise by the relevant regulator. The portal is open for registration and the filings must be submitted until 30 June 2022 for FY21.

In our April 2022 edition of GT’s Monthly Tax Newsletter, you can read the latest news updates affecting Indirect Tax, International Tax, and Transfer Pricing in the UAE and across the Middle East Region.

Q1 has seen a continued rise in deal activity in a number of sectors within our M&A and Transactions Advisory team. Following on from our Q4 2021 update, we are delighted to share this quarter's Food & Beverage (F&B) edition, summarising key themes, issues and activity in the sector. It has been a busy start to the year in F&B across the GCC and broader MENA region and we will continue to watch closely throughout the year.

In our March 2022 edition of GT’s Monthly Tax Newsletter, you can read the latest news updates affecting Indirect Tax, International Tax, and Transfer Pricing in the UAE and across the Middle East Region.

On the 4th of March 2022, the FATF placed the UAE on its Grey List. Whilst the UAE has made significant improvements in its AML and CFT framework, with the Grey listing comes potential impacts across the Financial Services and DNFBP sectors.

In our 2022 research, we see businesses taking deliberate, necessary action to create more inclusive working practices. They are prioritising employee engagement and opening the door to allow female talent access to senior positions in greater numbers than ever before.

The logistics sector within the MENA region is well-positioned to benefit from post-COVID 19 economic recovery. Our team of subject matter experts provide a global and regional economic outlook and give insights into what the logistics sector can expect in 2022 in our latest Logistics Sector Focus.

In our January 2022 edition of GT’s Monthly Tax Newsletter, you can read the latest news updates affecting Indirect Tax, International Tax, and Transfer Pricing in the UAE and across the Middle East Region.

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

Our M&A and Transactions Advisory team actively originates and executes transactions across a range of sectors. Some of the current as well as recently completed transactions include businesses in logistics, technology, real estate, food & beverage, healthcare, education, financial services and energy sectors.

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

After challenging times, we have the fantastic opportunity to experience the world coming together to celebrate Expo 2020 here in the UAE. Together with our global network of over 58,000 passionate professionals, Grant Thornton UAE, shares the UAE’s commitment in providing businesses and individuals alike with opportunities and support to create a better tomorrow.

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

Despite a difficult climate due to the pandemic across geographies and industries, Grant Thornton sees signs of optimism in both the resilience of the MENA markets and a strong recovery in economic and transactional activity.

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

The Federal Tax Authority introduced a Special Refund Scheme in 2020 to reimburse VAT paid on goods and services for official participants in Expo 2020.