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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.

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.

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.

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 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.

Grant Thornton UAE is pleased to present our annual Internal Control over Financial Reporting (ICFR) Benchmarking survey regarding compliance with UAE Insurance Authority Circular No. 21 of 2019 in the UAE Insurance Industry.

Read this month’s Hospitality Newsletter where our team of experts have gathered updates and shared insights on the UAE and GCC’s Hospitality landscape. Explore the updates affecting Indirect Tax, International Tax and Transfer Pricing.

In this paper we explore Trade-Based Money Laundering in further detail focused in particular on the December 2020 FATF publication “Trade-Based Money Laundering, Trends and Developments”* and provide guidance to Financial Institutions and other entities on how to assess, mitigate, identify and report the financial crime threats arising from the global trade system.

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

In this tax alert, our specialists, Steven Ireland and Muhammad Bhagat clarify the annual reporting requirements for all entities classified as Financial Institutions for FATCA and CRS Reporting (including the filing of Nil Returns) as stipulated within the regulations.

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

Learn about the latest tax updates, concerning VAT and customs in the UAE and GCC region.