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
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. In practice, however, corporate income tax is only enforced on oil and gas companies engaged in upstream activities, certain petrochemicals firms…
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,…
Viewpoint: Mark Schofield The UAE is a business centre for the MENA region and an attractive destination for investors for a number of reasons, including infrastructure, logistics, access to skilled labour and geographical proximity to almost two-thirds of the global market. According to PwC and the World Bank’s “Paying Taxes” 2019 study, the UAE continues have the single easiest system for…
Viewpoint: Mark Schofield The UAE is a business centre for the MENA region and an attractive destination for investors for a number of reasons, including infrastructure, logistics, access to skilled labour and geographical proximity to almost two-thirds of the global market. According to PwC and the World Bank’s “Paying Taxes” 2019 study, the UAE continues have the single easiest system for…
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…
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,…
Viewpoint:Dean Kern As a business centre for the MENA region, the UAE continues to be a highly relevant and attractive destination for investors for a number of reasons including infrastructure, logistics and access to skilled labour. According to the PwC and World Bank’s “Paying Taxes” 2017 study, the UAE is the country with the single easiest system for paying taxes in the world. In…