Tax
From The Report: Dubai 2013
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With cooperation from MERALI’S, this chapter outlines Dubai’s tax rules and regulations, including the steps that need to be taken to meet the legal requirements for firms looking to set up in the emirate. The chapter includes a viewpoint with Mahmud Merali, Managing Partner, MERALI’S.

Articles from this Chapter

Overview

Collecting dues: An explanation of the tax decrees specific to the emirate
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The federal government of the UAE has not promulgated any tax laws. Most of the individual emirates have issued corporate tax decrees, but in practice, taxes are only imposed on oil- and gas-producing companies at rates set forth in their government concession agreements, and on branches of foreign banks at rates established in specific tax decrees or fixed in agreements with the rulers of the emirates in which the branches operate. The income tax decrees that have been enacted in each emirate…

Analysis

Opening financial doors: A new economic centre will attract regional and international players
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Dubai has made great strides in opening up new avenues for economic growth. Over the last decade, it has developed itself into a strategic centre for international businesses to tap opportunities in the fast-growing emerging markets surrounding it. This development has been guided by a comprehensive economic diversification plan focused on developing key sectors that can accelerate economic growth, not only in the UAE, but also in the wider region. Dubai International Finance Centre (DIFC)…

Viewpoint

Mahmud Merali, Managing Partner, MERALI’S, on improving risk management and corporate governance requirements
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In terms of business challenges, reforms to the legal framework, improved corporate governance requirements and risk management in business would enhance the development and resilience of the economy. These reforms are essential, since the global economic crisis has placed a greater importance on the need for strong internal auditing and risk management procedures. Indeed, good corporate governance is a key factor in sustaining economic growth and development. As economic conditions change, so must…