Good Morning
It feels particularly Scrooge-like to start a Christmas message with references to tax, but that is indeed the talk of the town here right now since the UAE published its long-awaited approach to Corporation Tax last week.
The basic headlines for this are that locally based entities in the UAE with net income of AED 375,000 or more will be liable for a 9% tax on corporate profits effective from 1st June 2023. Of course, there is much more nuance to this, particularly for exporters and companies with entities in both the UAE and UK, and we will seek to address these issues in the coming months to provide a clear position.
In other news…the FIFA World Cup in Qatar comes to a conclusion this week and we talk about the economic benefits that the country might expect as a legacy from hosting the tournament. And we also feature news on the Dubai Future Foundation’s digital courses, provide an update on the construction sector and also the latest on the region’s trade shows.
And finally, we wish you all the very happiest of Christmases and a prosperous – and export laden – new year.
Regards
Joe
The World Cup could be the next staging post for Qatar’s economy
Our CEO discusses how Qatar could make the most of its moment in the global spotlight and how it promotes its economic interest & opportunities to the watching world. Full article here.
Dubai Future Academy: Digital courses
DFA aims to export Dubai’s way of future thinking to the world. Check out the digital courses on offer & how to avail this exciting opportunity.
Construction industry: projects & developments across the ME
Saudi Arabia and the UAE account for approx. 85 percent of the GCC’s planned future projects. Learn more on the latest opportunities & projects in development across the region.
Update on UAE & regional trade shows & exhibitions
Check out the upcoming scheduled (in-person) trade shows & exhibitions happening in the UAE & GCC in 2023.