Deciphering the Future of Abu Dhabi Businesses: Demystifying NAFA Corporate Tax in UAE

By | August 28, 2023

Scheduled for August 26, the upcoming conference aims to offer unmatched insights and expert counsel on the transformative taxation environment. NAFA Summit Unveils Highly Awaited Occasion: Decoding Corporate Tax UAE 2023 Abu Dhabi, August 26, 2023 – The New Age Finance & Accounting Summit (NAFA) takes pride in unveiling the long-awaited Corporate Tax UAE Decoded… Read More »

0% Corporate Tax for UAE Free Zone-Based Manufacturing: Key Details to Watch

By | August 10, 2023

These enterprises must still divide profits between manufacturing and sales operations. The UAE Ministry of Finance has initiated a digital consultation to gather opinions regarding aspects of the corporate tax structure applicable to free zone companies. This consultation focuses on defining the categorization and extent of qualifying activities and considering activities deemed exempt. Please provide… Read More »

Dubai’s Q1 2023 GDP Surges by 2.8%, Reaching Dh111.3 Billion

By | August 9, 2023

Transportation and Storage Sector Leads with Remarkable 10.3% Growth, Outperforming Other Industries. In Dubai, the real gross domestic product (GDP) exhibited a 2.8 percent year-on-year expansion during the initial quarter of the year, attaining Dh111.3 billion. This growth trajectory exceeded the average global growth rates recorded for Q1 2023. Chairman of The Executive Council and… Read More »

UAE corporate Tax Deadline: Businesses have a 9-Month extension for accurate filings, avoiding penalties

By | August 1, 2023

The UAE Ministry of Finance has established administrative penalties for violations related to corporate tax returns. Businesses have a nine-month window to ensure compliance and guarantee the accuracy and completeness of their submissions. This nine-month window aligns with the company’s specific financial year. For example: Later, the authorities will disclose the specific penalties for each… Read More »

National Bonds’ CEO: Over 70% of residents see UAE as a ‘savings destination.

By | July 28, 2023

Approximately 37% of National Bonds Savings Index participants consider UAE for retirement. Dubai: In the 10th edition of the National Bonds’ annual Savings Index, recently released on Tuesday, they studied that 76 percent of UAE residents view the UAE as their preferred savings destination. This perception is particularly prominent among the younger population, as stated… Read More »

Abu Dhabi’s Property Sector Witnesses Astounding 363% Surge in FDI during the H1 of 2023.

By | July 25, 2023

During the initial half of 2023, foreign direct investment (FDI) in Abu Dhabi’s property sector experienced a significant surge, soaring by an impressive 363%. Leading the pack in attracting foreign investments were Saadiyat Island and Yas Island, both receiving the highest share of FDI during this period. In the first half of 2023, Abu Dhabi… Read More »

Dubai experienced the most rapid growth in new businesses in 10 months.

By | July 24, 2023

Dubai’s new businesses witnessed their most significant growth in the past ten months during June, as per data from S&P Global. The S&P Global Dubai Purchasing Managers’ Index (PMI) climbed to 56.9 in June, up from 55.3 in May. It indicates a robust improvement in operating conditions within the non-oil sector since August 2022. Employment… Read More »

UAE Central Bank introduces measures to mitigate the impact of soaring home loans interest rates

By | July 21, 2023

The Central Bank of the UAE (CBUAE) released a notice to alleviate the impact of increased interest rates on residential real estate loans for UAE nationals (non-investment real estate) on July 4, 2023.  Effective July 1, 2023, the measures apply to all residential real estate loans. Involving individuals with increased Debt Burden Ratios (DBRs), banks… Read More »

The UAE Ministry of Finance offers a digital public consultation on corporate tax

By | July 20, 2023

Abu Dhabi: As part of the UAE Corporate Tax’s Free Zone laws, the UAE Ministry of Finance launched a digital public consultation on its website. Contributions will be handled between July 19 and August 2, 2023. The business community and stakeholders can provide feedback on this effort, which got announced on Wednesday. The consultation period… Read More »