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n continuation to our previous Tax Alert released in September 2024 on UAE Tax Residency Rules for Individuals, we would like to bring to your notice that the UAE Federal Tax Authority (FTA) released a new Guide (TPGTR1) on “Tax Residency and Tax Residency Certificate” on October 18, 2024. To learn more please read our article, kindly reach out to the team if you have any questions.

Thank you for reading and sharing our Sector Focus: Exploring the Maritime Ambitions of GCC ports article. Please reach out to the team if you have any questions.

In a move that's set to reshape the business landscape in the UAE, a significant update to the Economic Substance Regulations (ESR) has been announced. Let's dive into what this means for businesses operating in the region.

We hosted an insightful webinar on tax governance and risk management in the evolving UAE tax landscape. Our session covered critical topics such as tax governance frameworks, strategic tax policy development, compliance and reporting, transfer pricing, and VAT procedures. Attendees had the opportunity to engage with experts during our interactive Q&A session, equipping them with the knowledge and strategies needed to navigate the complexities of the new tax era.

The UAE has introduced significant amendments to the VAT Executive Regulations, effective from 15 November 2024. These changes will have a profound impact on businesses across the UAE. Key updates include the inclusion of digital assets, relief for proof of export, extension of input VAT recoverability for medical insurance for dependents, and changes in zero-rating provisions for services. Curious about how these changes might affect your business? Grant Thornton UAE has prepared a comprehensive summary of all these changes. Don’t miss out on this essential guide to understanding the key changes in the new regulations.

In our September 2024 edition of GT’s regional monthly Tax Newsletter, we provide the latest Tax news updates affecting International Tax, Corporate Tax, Transfer Pricing, and Indirect Taxes in the UAE and across the Middle East region.

Tax Alert - UAE Tax Residency Rules

In our August 2024 edition of GT’s regional monthly Tax Newsletter, we provide the latest Tax news updates affecting International Tax, Corporate Tax, Transfer Pricing, and Indirect Taxes in the UAE and across the Middle East region.

Are energy costs affecting your business? Here’s what you need to know. Rising energy costs are a concern for global mid-market businesses, impacting operational expenses and long-term planning. The UAE has made significant strides in diversifying its energy sources. Grant Thornton has consulted with global energy industry leaders to understand how businesses are navigating these changes. For more detailed insights on the report, you can find the full article in the link below.

Is your business aligned with the latest FTA Clarification on Corporate Tax and the First Tax Period? The UAE Federal Tax Authority’s recently issued clarification provides details on the First Tax Period applicable to UAE Juridical Persons, Resident Persons with Place of Effective Management (PoEM) and Resident Persons with a Permanent Establishment (PE) in the UAE. This clarification also outlines the timelines for deregistration in cases of liquidation or cessation of business. You can find the full article in the link below.

What does the latest FTA Clarification on Related Parties under Article 35 of the UAE Corporate Tax Law mean for your business? On 22 July, the Federal Tax Authority issued a clarification stating that government-owned or controlled entities with common ownership or control by a Federal or Local Government will not be considered 'Related Parties' under Article 35. This means that it’s important to review and reassess any group structures ultimately owned or controlled by Federal or Local Governments. Read more here:

In our July 2024 edition of GT’s regional monthly Tax Newsletter, we provide the latest Tax news updates affecting International Tax, Corporate Tax, Transfer Pricing, and Indirect Taxes in the UAE and across the Middle East region.

We are pleased to announce our latest publication on the F&B sector, offering industry insights and expert commentary on F&B in the region, including its financial outlook. The UAE’s Food and Beverage (F&B) sector is projected to achieve revenues of USD 38.3 billion by the end of 2024. In particular, food tech is attracting government and investor attention, in alignment with the UAE’s National Strategy for Food Security. In this edition, we also spoke with Khaled Fadly (https://www.linkedin.com/in/khaledfadly/), CEO of Epik Foods (https://www.linkedin.com/company/epikfoodss/), the UAE and KSA-based F&B group, to learn about his journey from the corporate world to becoming a successful F&B entrepreneur. Khaled shares his journey into the F&B sector and the challenges faced and successes achieved along the way. He also discusses key considerations for companies looking to expand internationally and outlines Epik Foods’ future plans.

Explore the main listing requirements and navigate the IPO journey confidently with our capital market specialists, who have facilitated over a third of the UAE IPOs since 2018, providing insights into governance frameworks and compliance requirements in the UAE, and maximising listing success.

In our June 2024 edition of GT’s regional monthly Tax Newsletter, we provide the latest Tax news updates affecting International Tax, Corporate Tax, Transfer Pricing, and Indirect Taxes in the UAE and across the Middle East region.

In our May 2024 edition of GT’s regional monthly Tax Newsletter, we provide the latest Tax news updates affecting International Tax, Corporate Tax, Transfer Pricing, and Indirect Taxes in the UAE and across the Middle East region.