UAE Issues Amendments in VAT Executive Regulations Reducing Penalties for Tax Non-compliance
Cabinet Decision No. 49 of 2021 has announced amendments of certain provisions of the old cabinet decision No. 40 of 2017 regulating the Administrative Penalties for Violation of Tax Laws in the UAE.
Dubai-business Outlook for Startups and SMEs during Covid Pandemic
Dubai is one of the most open economies in the world with a strategic location between Asia, Africa, and Europe. Even at a time when the pandemic gripped the world in 2020, Dubai witnessed USD 3.26 billion FDI during the first half of 2020 and ranked fourth globally with several new business setups in Dubai.
Saudi Arabia Surpasses SR 2 Trillion FDI Amidst Covid Pandemic
Saudi Central Bank (SAMA) data reveals that 2020 witnessed the highest inflow of foreign investments in the Kingdom of Saudi Arabia (KSA) surpassing SR 2 trillion (USD 0.53 trillion) and rising 9 per cent YOY despite global economic turmoil caused by covid 19 pandemics.
UK Prepares for Free-Trade Deal with GCC Countries
The opportunity and freedom to strike global trade deals have long been cited as one of the main reasons for the UK leaving the European Union (EU).
Oman Becomes the Fourth GCC Country to Implement VAT
The Value Added Tax (VAT), a consumption tax system has been enforced in Oman on Friday, the 16th April 2021 and the Sultanate has become the fourth country to join the other three GCC member states including the UAE, Saudi Arabia, and Bahrain to introduce this tax.
UAE Participated In IMFC Meeting
UAE Minister of State for Financial Affairs, Obaid Humaid Al Tayer participated in the recently held spring meeting of the International Monetary and Financial Committee (IMFC) convened in a virtual format
Rising Complexities in Value Added Tax (VAT) Regime in the GCC Countries during the Post Coronavirus Pandemic
The Coronavirus pandemic has taken a massive toll on most of the global economies and the GCC countries are no exceptions.
Why You Need PRO Services as an Employer in Dubai? Things You are not Told by Everyone
More and more investors across the globe are discovering Dubai as their future business destination and many companies located in the UAE are planning to hire people
DIFC Innovation License for Startups
Dubai International Financial Centre (DIFC) is the fastest growing financial center in the Middle East and Africa ( MENA) region and has been dedicated to the economic excellence of the nation by promoting technological innovation
Global Economy Will Witness Stability and Growth In 2021
2021 will move towards economic prosperity with strong economic and profit growth throughout the year in equities, real estate, and bond markets including particular commodities;