Tax
From The Report: Dubai 2015
View in Online Reader

This chapter contains an overview of the tax framework in which local and foreign investors operate, including an outline of the incentives available in the free zones and a look at the opportunities in the Dubai International Financial Centre. This chapter contains a viewpoint from Mahmud Merali, Managing Partner, MERALI’S.

Articles from this Chapter

Overview

Dubai imposes very few taxes
OBG
plus

The federal government of the UAE has not promulgated any tax laws and, as a result, much of the existing tax structure in the emirates has been established by the individual emirates, which have issued varying corporate tax decrees. While this seems like it would lead to confusion and hamper the business environment, in practice, taxes are only imposed on oil- and gas-producing companies (at rates that are set forth in their government concession agreements), and on the branches of foreign banks…

Analysis

A new financial centre in Dubai will bridge Western and East Asian markets
OBG
plus

Over the past decade, Dubai has made great strides in opening up new avenues for economic growth, becoming a strategic hub for international businesses to reach nearby emerging markets. This development has been guided by an economic diversification plan focused on key sectors that can accelerate growth, not only in Dubai and the UAE, but also the entire region. Financial Planning The Dubai International Financial Centre (DIFC) is an initiative launched to harness the potential of the region’s…

Viewpoint

Mahmud Merali, Managing Partner, MERALI’S, on the state of auditing and financial reporting law in Dubai
OBG
plus

The global economic crisis has placed a greater importance on the need for strong corporate governance, internal auditing and risk management procedures. Sound corporate governance is a crucial factor in sustaining economic growth, and as conditions change, so too must risk management priorities. Thus, internal auditors should first consider whether they are aligned with the strategy and direction of the company. By focusing on the company’s long-term strategy, understanding the impact of short-term…