Abu Dhabi stands at the forefront of the MENA region’s economic growth, boasting a 9.3% growth rate in 2022. Looking ahead, the emirate’s ambitious roadmap, the Abu Dhabi Economic Vision 2030, charts a course for economic transformation. A key goal of the roadmap is to substantially reduce reliance on hydrocarbons, with a target of achieving 64% of GDP from non-hydrocarbons sectors by 2030. Th
Viewpoint:Emilio Pera As the capital of the UAE, Abu Dhabi is an economic centre that attracts people and businesses from around the world. The emirate’s strategic location, stable political environment and forward-think-ing policies make it a popular destination for both established and emerging businesses. The introduction of a federal corporate tax pre-sents challenges and opportunities…
Abu Dhabi and the UAE are desirable locations to establish a business and attract foreign investment, in large part due to their globally competitive tax regulations. The country remains committed to operating a business-friendly economy in line with international best practices. The pace of changes in tax legislation globally has increased exponentially in the last decade. The UAE continues to react…
Abu Dhabi and the broader UAE have established themselves as attractive destinations for business and foreign investment, due in large part to their globally competitive tax regulations. The UAE remains committed to maintaining a business-friendly economy aligned with international best practices and has proactively adapted to rapid changes in global tax legislation over the past decade. The implementation…
Following GDP growth of 1.5% in 2019, a shift to a more expansionary fiscal stance in response to the Covid-19 pandemic and associated global economic downturn in the first half of 2020 has helped Abu Dhabi establish a springboard for continued growth moving forwards. While public spending and investment remain important drivers of economic expansion, a major overhaul of the investment framework a
The UAE currently has no system of federal income taxation. Instead, most of the emirates – including Abu Dhabi – enacted their own corporate tax decrees in the 1960s. These emirate-level decrees are of general application and remain in force as amended. In practice, however, corporate income tax is only enforced on oil and gas companies engaged in upstream activities, certain petrochemicals firms…
Viewpoint:Mark Schofield The UAE continues to be an attractive destination for international investors and a centre for businesses in the MENA region for a number of reasons. In order to remain a competitive environment for businesses and foreign direct investment, the UAE has continued its drive for business-friendly regulatory and legislative framework. Changes such as the reduction of business…
The UAE currently has no system of federal income taxation. Instead, most of the emirates – including Abu Dhabi – enacted their own corporate tax decrees in the 1960s. These emirate-level decrees are of general application and remain in force as amended. These corporate tax decrees are similar in nature and text, and deal in broad terms with the identities of taxable persons, rates, administration,…
Despite lower external demand and a sharp drop in oil prices from mid-2014, Abu Dhabi’s economy has remained resilient, growing by 9.5% in 2017. The emirate is working to consolidate government spending and reshape the economy through a decreased reliance on oil and gas, investing in areas such as research and development, technologically advanced manufacturing and other high value-added industr
The UAE currently has no system of federal income taxation. Instead, most of the emirates – including Abu Dhabi – enacted their own corporate tax decrees in the late 1960s. These emirate-level corporate tax decrees are of general application and remain in force. These decrees are similar in nature and text, and deal in broad terms with the identities of taxable persons, rates, administration, computation…