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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.

Following on from Part 1 of our ‘Ten-Point Guide to Selling your Business’ publication, which covered an overview of the key steps to be considered to achieve a favourable outcome in a sales process, we are pleased to introduce Part 2 of the series, where we focus on the Preparing for Sale stage.

This study evaluates banks' procurement practices exploring amongst other: governance practices, automation levels and risk management effectiveness of the procurement function.

There have been recent amendments to the VAT Laws, VAT Executive Regulations and the Tax Procedures Laws -an important amendment amongst others is the Emirate-wise VAT reporting applicable to businesses engaged in electronic supplies. This amendment is effective from 1 July 2023 and applies to VAT returns to be filed for the period beginning on or after this date.

In our August 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 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.