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Top Industries in the UAE : The UAE has established itself as a hub of economic activity, with its economy expected to grow by 4% in 2024. This growth is largely fueled by non-oil sectors such as real estate, construction, tourism, financial services, and wholesale trade. Several factors contribute to this robust expansion, including increased …

Top Industries in the UAE: Consider These for Your Next Business Venture Read More »

Dubai to Reinstate 30% Alcohol Sales Tax. The Dubai government has announced the reintroduction of a 30% alcohol sales tax, which will take effect on January 1, 2025. This development was communicated to restaurants and bars through an email from African + Eastern, a major alcohol retailer in the region. The email confirmed, “Dubai Government …

Dubai to Reinstate 30% Alcohol Sales Tax Starting January 2025 Read More »

Substance Regulations (ESR): Key Changes for Businesses-The UAE Government has introduced a pivotal update to the Economic Substance Regulations (ESR) through Cabinet Decision No. 98 of 2024,The UAE Government has introduced a pivotal update to the Economic Substance Regulations (ESR) through Cabinet Decision No. 98 of 2024, issued on 2 October 2024. This decision significantly …

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UAE Approves Record Dh71.5 Billion Federal Budget : The United Arab Emirates (UAE) has achieved a historic milestone with the approval of its largest-ever federal budget, amounting to Dh71.5 billion for the year 2025. This remarkable budget reflects the UAE’s growing economic strength, the sustainability of its financial resources, and the government’s commitment to ensuring …

UAE Approves Record Dh71.5 Billion Federal Budget for 2025: Largest in History Read More »

Cancellation of ESR Requirements in the UAE : In a significant move aimed at enhancing its appeal as a global business hub, the UAE has officially cancelled the requirements for Economic Substance Reports (ESR). The announcement, made in accordance with Decision No. 98 of 2024, brings an end to the obligation for companies to submit …

Cancellation of ESR Requirements in the UAE: A Game-Changer for Businesses Read More »

UAE Approves Record Dh71.5 Billion Federal Budget. In a significant development underscoring the strength and sustainability of the UAE economy, the UAE Cabinet has approved the federal budget for 2025, amounting to Dh71.5 billion. This is the largest budget in the nation’s history and reflects the government’s ongoing commitment to growth, social welfare, and economic …

UAE Approves Record Dh71.5 Billion Federal Budget for 2025 Read More »

The UAE applies Economic Substance Regulations (ESR) to local companies located in the country, including businesses in the free zones and those engaged in any of the defined ‘relevant activities’. These companies must provide the regulatory authorities with economic substance notifications, including preliminary information about the activities. This notification is a prerequisite for submitting an …

Economic Substance Regulations: Penalty of AED 20000 – AED 50000 Last date Till 30 June Read More »

These rules have been in place before but were relaxed in September 2020.