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The Federal Tax Authority (FTA) has issued Federal Tax Authority Decision No. 3 of 2024 which shall be effective from 1 March 2024 and specifies timelines for registration of taxable persons for UAE Corporate Tax (UAE CT) purposes on the Emara Tax Portal. This Decision abrogates all provisions that are contrary or inconsistent with the new Decision.

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

In January 2024, the Federal Tax Authority (hereinafter - “FTA”) issued a Corporate Tax Guide (hereinafter - “the Guide”) focusing on Tax Groups, which helps Taxable Persons to understand the taxation of juridical Resident Persons that form a Tax Group, including key aspects of transfer pricing (hereinafter - “TP”), providing relevant examples.

Following on from Part 2 of our ‘Ten-Point Guide to Selling your Business’ publication, which focused on ‘Preparing for Sale’, we are pleased to introduce Part 3 of the series, where we will focus on the Going to Market stage of the process.

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

The Consumer Protection Regulation “CPR” issued by the Central Bank of the United Arab Emirates “CBUAE” on December 31, 2020, mandated that Licensed Financial Institutions (LFI’s) must adhere to the CPR and the related Consumer Protection Standards (CPS). As a consequence, there will be increased scrutiny on LFIs to meet the regulatory expectations across key controls of conduct risk.

While the UAE Corporate Tax (CT) law is effective from 1 June 2023, for numerous businesses that follow a December financial year end, the application of the UAE CT commenced on 1 January 2024.

The Food and Beverage (F&B) sector has continued to grow and show resilience to macro-economic headwinds in 2023, evidenced by strong deal flow and capital raisings in the UAE and broader GCC. Following on from our Q1 2023 update, we are delighted to share our latest F&B edition, summarising key themes, issues and activity in the sector.

Organisations are rapidly embracing this shift, integrating ESG practices into their strategies to mitigate risks, build resilience, and unlock sustainable growth. Meanwhile, regulators and policymakers recognise the need for a supportive ecosystem that empowers businesses on this journey while fostering sustainable economic development.

In our December 2023 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 November 2023 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.

The FTA has issued much awaited Transfer Pricing Guide to provide clarifications and best practices to meet arm’s length principle from UAE TP perspective. It largely aligns with OECD Transfer Pricing Guidelines with certain nuances specific to UAE. Read more about the key highlights from the Transfer Pricing Guide in this alert.

Air freight terminals in the GCC region serve as pivotal cargo hubs in the global logistics industry. Situated at the crossroads of major international trade routes, these state-of-the-art facilities are critical for the efficient movement of goods across the world. With a focus on innovation, infrastructure development and strategic positioning, the GCC’s cargo terminals have emerged as vital links in the global supply chain.

In our October 2023 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.

With close to six years since the implementation of the Value Added Tax (VAT) in the United Arab Emirates (UAE), businesses have witnessed amendments through changes in VAT Laws, Executive Regulations and the Tax Procedures Laws at a regular interval.

In our September 2023 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.