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IFRS news is your quarterly update on things relating to International Financial Reporting Standards (IFRS). We’ll bring you up to speed on topical issues and significant developments, provide comments and give our point of view.

FIs need to re-focus their businesses and reconsider strategies to respond to the large amount of regulation, in an economic environment that is fundamentally more restraining. This can be achieved via five key areas of transformation for 2020 and beyond.

Read about the recent developments about VAT and Excise Tax in the UAE as well as GCC updates in this VAT Alert.

Businesses of all shapes and sizes are trying to carve out competitive advantage by leveraging digital information. But owing to the increased use of personal data, it also creates vulnerabilities and inter-dependencies between two previously discrete threats – data privacy and cyber security.

Read about the recent developments about VAT, Excise Tax and Economic Substance Requirement in the UAE as well as GCC updates in this VAT Alert.

IFRS News is your quarterly update on all things relating to International Financial Reporting Standards. We’ll bring you up to speed on topical issues, provide comment and points of view and give you a summary of any significant developments.

Read about the recent developments about VAT in the UAE as well as GCC updates in this VAT Alert.

REITs, which are a subset of property funds, have been a rapidly growing asset class worldwide and signs of this growth have more recently also been seen in the GCC, enabling access to the region’s vibrant property market to people across the world.

Since its inception in the 1970s, the Islamic finance industry continues to flourish into new horizons, the ethical-based concept was founded to meet the demand of a select group (yet a large population) of consumers and investors and is now recognized as a leading global segment within the global financial services industry. Islamic banking has driven much of this growth, due to the advancement and enabling infrastructure of the banking system, in addition to the collective efforts of bankers and scholars.

With the Chinese financial services industry entering international jurisdictions, where does Islamic Finance fall in it's path of growth?

As economies look to diversify their global trade relations, the Gulf region advances as a favourable market to consider. Read the full article written by our very own Audit Partner Darren Yule.

Since VAT was implemented in the UAE more than 6 months ago, how has the hospitality sector fared and how can it improve VAT compliance?

We look at the impact to Islamic crypto-assets in light of the new Abu Dhabi Global Markets regulatory framework for crypto-assets.

The General Data Protection Regulation (GDPR) comes into force on 25 May 2018, and its reach will not be limited to the EU. Are you prepared for GDPR?

Grant Thornton UAE assesses the recent financial reforms and investment opportunities in the Gulf region for UK investors looking further afield post-Brexit.

So will the Base Erosion and Profit Shifting (BEPS) Action Plan result in a tax system that’s fairer, more efficient and more understandable?