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Chapter | Tax from The Report: Dubai 2019

The UAE currently has no system of federal income taxation. Instead, most of the emirates – including Dubai – enacted their own corporate tax decrees in the late 1960s. These emirate-level corporate tax decrees are of general application and remain in force as amended. These decrees are similar in nature and text, and deal in broad terms with the identities of taxable persons, rates, administration, computation of taxable profits and loss relief. The decrees limit the scope of taxation to “bodies corporate” carrying out a trade or business in the respective emirates. This chapter contains a viewpoint from Mark Schofield, Partner, PwC Middle East Tax & Legal Services Leader.

Chapter | Industry from The Report: Dubai 2019

From 2007 to 2017 the UAE’s industrial sector grew by approximately 31%. According to consultancy Oxford Economics, it is set to grow marginally faster — by another 34% — in the 10 years leading to 2027. At the emirate level, Dubai’s industrial sector has likewise emerged as a major driver of growth; the sector in Dubai grew by 6% annually in the ten years to 2017 and this rate of expansion is expected to surge to 51% in the decade to 2027. Growth will continue to be fuelled by the emirate’s strategic location, which is within an eight-hour flight of almost two-thirds of the global population; its comprehensive airport and seaport infrastructure; and the investment-friendly policies in place.

Chapter | ICT from The Report: Dubai 2019

Dubai offers a healthy environment for ICT operators, with its strong, high-tech and high-coverage network combining well with a tech-savvy and internationally connected population. At the same time, the gov¬ernment in Dubai – and in the UAE – has repeatedly demonstrated its commitment to become a world leader in terms of IT. Initiatives such as Smart Dubai and the Dubai Future Foundation, along with a minister of state for artificial intelligence (AI) and a minister for cabinet affairs and the future, are all positive indi¬cators of this emirate’s forward-looking commitment. This innovative approach is more necessary than ever in a market where basic ICT services long ago reached saturation point. This chapter contains an interview with Aisha bin Bishr, Director-General, Smart Dubai Office.

Chapter | Education from The Report: Dubai 2019

The education sector of Dubai is shaped by a population that was 3.2m in early 2019 and around 90% expatriate, making it multinational, multi-ethnic and multicultural. In the 2017/18 academic year, Dubai’s student body included 182 nationalities, with students from India comprising around 33.9% of the total, followed by those from the UAE (11.7%), Pakistan (8%), Egypt (5.5%) and the UK (4.7%), while the emirate’s most diverse school included 114 different ethnicities. Legislation reserves public school seats for Emiratis, meaning that this large percentage of foreign students attend private schools and colleges, which offer a variety of opportunities and incorporate 16 different national curricula.

Chapter | Health from The Report: Dubai 2019

One of the most rapidly expanding markets in the region in recent years, Dubai’s health care sector is set for further growth, driven by an expanding and ageing population, changing medical needs and a determination by the government to provide all citizens with the best possible health care. Both inpatient and outpatient markets are widely forecast to see double-digit expansion in the run-up to 2022, while subsectors such as medical tourism continue to gain momentum. At the same time, investment in new technologies is gathering pace, with Dubai seek¬ing to become a global leader in high-tech medical applications and digital services, like telemedicine. This chapter contains an interview with Humaid Al Qutami, Director-General, Dubai Health Authority.

Chapter | Energy from The Report: Dubai 2019

Although Dubai’s growth and prosperity have been fuelled by its proximity to oil, its own modest hydrocarbons endowment accounted for just 1.3% of the emirate’s GDP in 2016. Energy’s contribution to national GDP in recent years has averaged around 45% for the UAE as a whole, but only about 5% in Dubai. Still, Dubai operates as a centre for oil and gas trade. The emirate has diversified activities to become a global financial and trading hub, and hydrocarbons continue to have a major impact on economic activity. At the same time, Dubai is right at the forefront of what might be called the new emerging cleaner energy world, by developing and promoting disruptive technologies. This chapter contains interviews with Saif Humaid Al Falasi, Group CEO, Emirates National Oil Company; and Saeed Mohammed Al Tayer, Managing Director and CEO, Dubai Electricity and Water Authority.