Other Briefings
Applying For Tax Relief Under the UAE SME Tax Relief Programme
Since 2014, the UAE government has introduced a national program to develop, support and encourage the Small-Medium Enterprise (SME) sector. The latest corporate tax relief – referred to as ‘Small Business Relief’ (SBR) – provides additional support to the SME sector – including new start-ups.
Non-Residents In UAE Need Not Register For Corporate Income Tax
In the latest update to the UAE Corporate Tax regime, a non-resident person will not be required to register for tax if they only earn UAE-sourced income and do not have a permanent establishment in the UAE.
The Middle East, Asia To Have Highest Annual Export Growth in 2024: World Trade Organisation
The Middle East and Asia are slated to see the fastest annual growth in merchandise exports in 2024, in line with the positive trend in the macroeconomic growth prospects in the regions, according to the World Trade Organisation (WTO). In its most recent Global Trade Outlook and Statistics report, the WTO said the Middle East […]
UAE New Tax Regime Allows Corporate Losses To Be Carried Forward Against Future Profits
The UAE’s Ministry of Finance has given approval for businesses to use losses (from the date of the introduction of corporate tax) incurred to reduce their taxable income in subsequent financial periods. The MoF has stated that excess tax losses can be carried forward and applied against future taxable income – as long as certain […]
UAE, Israel, Sign Free Trade CEPA Agreement
The UAE and Israel have ratified a free trade agreement, reducing or removing tariffs on about 96% of goods traded between the nations, Israel’s Foreign Ministry has said. The two countries first reached the agreement last May, promising to boost bilateral trade after they normalized ties in 2020 in a U.S.-brokered deal under the Abraham […]
Iran-Turkiye Bilateral Trade Reaches US$921 Million In 2M 2023
Turkiye’s Statistical Department has announced that the countries bilateral trade volume with Iran in the first two months of the current year (January-February) has reached US$921 million.
Foreign Investors In UAE FTZ Must Pay Attention To Upcoming Tax Regulatory Changes
Special attention will be paid by the UAE tax authorities to the new ‘anti-abuse rules’ Foreign investors in the UAE, and especially those operating out of Free Trade Zones or with a base on the UAE ‘mainland’ may need to think about potential tax restructures to their businesses in order to properly absorb the upcoming […]
Iraq Becomes Part Of TIR Transport Convention
Iraq, sitting at the crossroads of multiple Middle Eastern trade routes, has become the 78th country to accede to the United Nations TIR Convention. Iraq’s accession to the TIR anchors its strategic role as a transit hub and supports the country’s economic vision to expand its non-oil sectors. The TIR is the world’s only global […]
China Conducts First LNG Purchase In RMB Yuan With United Arab Emirates
China has conducted its first liquefied natural gas (LNG) purchase settled in Yuan, the Shanghai Petroleum and Natural Gas Exchange announced on Tuesday. The trade involved around 65,000 tons of LNG imported from the United Arab Emirates, according to the exchange.
Dubai Introduces A Metaverse Dispute Arbitration Platform
The Dubai International Arbitration Centre (DIAC) is putting up a Metaverse dispute resolution platform, where those involved in the dispute can get onto the Metaverse platform and participate in finding a resolution – from wherever they might be in the world.
