Other Briefings
Abu Dhabi Provides Tax Incentives For AI Investors and Start Ups
100% Foreign Ownership and Income Tax breaks permitted in this crucial hi-tech sector Abu Dhabi is looking to attract AI start-ups with a new licence package and special offers. The Masdar City Free Zone has introduced a new licensing package for start-ups and businesses focused on artificial intelligence (AI). The package is part of a […]
Saudi Arabia’s Upcoming 2024 Tax Reforms: The Proposals
Foreign investors should take note of sweeping changes to Saudi Arabia’s tax laws Riyadh has proposed new income tax and procedures laws to take effect during 2024 and 2025, with these available for public feedback until December 25. These are part of national tax reforms to modernise its tax system, increase transparency, and encourage foreign […]
Saudi Arabia, India and Indonesia Set To Be 2024’s Fastest Growing Global Economies
Saudi Arabia will be among the world’s fastest growing economies in 2024, according to a note published by credit ratings agency Moody’s this week, with Kingdom’s GDP growth forecast to expand by 4.6% next year. This means that the Gulf’s biggest economy will be among the three top fastest growing countries in the world next […]
UAE Clarifies Free Zone Commodity Traders, IP, and Related Party Services Tax Exposure
The much sought after zero per cent tax opportunity has been further clarified and expanded A new cabinet decision and a corresponding ministerial decision – repealing earlier decisions – has been issued with retrospective effect from June 1, 2023, introducing some new concepts and clarifying several pertinent issues.
Applying For A UAE Green Visa: A Step by Step Guide
New visa category offers 5 year residency status for entrepreneurs and skilled workers and their families The UAE government has introduced a variety of new entry visas and residence permits as well as expanded the categories of Golden Visas. One of these is the UAE green visa. The UAE’s Green visa is a type of […]
The Gulf Cooperation Council Approves Unified Gulf Visa
Jassim Mohammed Al Budaiwi, the Secretary General of the Cooperation Council for the Arab States of the Gulf, (GCC) has announced that the organisation has approved the issuance of a unified GCC visa.
Egypt To Launch Sharia-Compliant Stock Index
A new Sharia-compliant index is expected to be launched on the Egyptian Exchange (EGX) within the first half of next year, EGX chairman Ahmed El Sheikh has stated.
Dubai Announces US$67.1 Billion Budget for 2024-2026
Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, has approved the Government of Dubai’s general budget for the fiscal cycle of 2024-2026, with total expenditures of AED246.6 billion (US$67.1 billion).
Saudi Arabia Starts 12 Month, Multi Entry E-Visa Service
Muhammad Aba Hussein, the Undersecretary of the Saudi Ministry of Investment for Integrated Investor Services, has announced that potential foreign investors and employees of foreign companies can apply for an electronic visit visa through the platform affiliated with the Ministry of Investment, named “Invest in Saudi Arabia”.
UAE Issues New Rules On Tax Payment Concerning Intellectual Property Income
The UAE has announced new rules on payment of tax in the country, clarifying the amount of tax payable on intellectual property, as well as a tax exemption on income earned trading selected items on registered stock exchanges.
