Other Briefings
The UAE’s Trade and Investment Dynamics with the BRICS
With the United Arab Emirates having just been invited to join the BRICS group, we provide an analysis of existing UAE – BRICS trade By Emil Avdaliani Introduction The 2023 annual BRICS summit has just concluded in Johannesburg, with the BRICS member countries – Brazil, Russia, India, China and South Africa issuing invitations to another […]
Türkiye, UK To Discuss Upgrading Their Free Trade Agreement
Services sector opportunities for the UK as Türkiye emerges as a North-South-East-West transport hub for Europe By Chris Devonshire-Ellis Türkiye and the United Kingdom have agreed to commence discussions on a expanding their current free trade deal, with talks tabled to start early next year. With Türkiye and the UK being the part of the […]
Are Employee Bonuses and Commissions Liable For Individual Income Tax In The UAE?
In the UAE, employers often pay additional bonus and/or commission to incentivise employees. A notion is being created that a company should not pay commission or bonus to its employees as these could be treated as employees’ individual business income.
UAE Free Zones See High Foreign Establishment Demand
Boom time in Dubai for foreign investors as corporate rents competition incentivizes tenant overheads lower Free zones in the UAE are celebrating their status as the go-to places for new businesses – both domestic and foreign investors – as it becomes clear that businesses based in qualifying free zones can apply for a 0 per […]
Dubai Chamber Of Commerce Sets Up Trade Office In Sydney
Australia-UAE Non-Oil Trade Up 28.6% In Past 12 Months The Dubai International Chamber of Commerce has announced the opening of a new international office in Sydney, Australia in addition to signing of a Memorandum of Understanding (MoU) with the Australia Arab Chamber of Commerce & Industry (AACCI).
GGC – UK Trade Increased 70% To Reach US$82.7 billion In FY 2022-23
GCC-UK Free Trade Negotiations Also Progressing The beleaguered British economy finally had something to cheer as statistics released by the UK’s Department for Business and Trade have stated that the total trade between the UK and GCC countries rose by more than 70% to £64.5bn ($82.7bn) in the fiscal year that ended in March 2023. […]
UAE Business Owners: Be Careful How Much You Pay Yourself
With the new UAE tax environment having come into effect since June this year, a host of new laws have now come into effect. But when considering that there is no tax on an individual’s salaries, every business owner is contemplating paying themselves a good salary from their own company. Yet this carries pitfalls, not […]
Israel, Vietnam Sign Free Trade Agreement
Israel and Vietnam signed a free trade agreement last week, with both sides predicting it would quickly boost annual bilateral trade by nearly 50 per cent. The agreement is expected to soon bring bilateral trade to $3 billion, the Ministry said, after trade between the countries rose 18 per cent last year to US$2.2 billion. […]
Dubai Free Trade Zone Reports 24% Increase In Chinese Investors
The Dubai Multi Commodities Center (DMCC) has announced a 24% year-to-date increase in the number of Chinese companies setting up in its free trade zone. The DMCC has signed a memorandum of understanding with the Lin-gang Special Area of China (Shanghai) Pilot Free Trade Zone (LGSAC), and allows Shanghai and Dubai to streamline requirements and […]
Dubai Q1 GDP Growth Beats Global Averages: Results By Industry Sectors
Dubai’s Real Gross Domestic Product (GDP) grew 2.8% year-on-year in the first quarter of the year to reach Dhs111.3 billion (US$30.3 billion) surpassing the average global growth rates for Q1 2023. The surge maintains the robust momentum of growth achieved in 2022, when the emirate experienced a 4.4% expansion of the economy.
