Gulf & GCC economic news and analysis
That single sentence contains the two facts most first-time filers get wrong. The deadline is not linked to a calendar date the same way VAT is; it moves with your financial year. And there is no grace period between filing and paying — the Federal…
Moving money abroad is a recurring cost that traditional bank wires handle slowly. A new generation of regional payment rails is changing that for UAE businesses, and the right route can cut both fees and settlement time on GCC and international corridors.
Cross-border payments strain Gulf SMEs. How multi-currency business accounts cut cost and delay — and what to check before switching.
A UAE company audit is mandatory for Qualifying Free Zone Persons (QFZPs), DIFC entities, ADGM entities, and mainland companies with revenue exceeding AED 50 million. For all other entities, an audit is optional but increasingly expected by banks
The UAE is implementing mandatory electronic invoicing (e-invoicing) starting 1 January 2027 for businesses with annual revenue exceeding AED 50 million. All B2B and B2G invoices must be issued, transmitted, and stored electronically through an
A UAE tax group allows two or more resident entities under common ownership (95 %+) to file a single consolidated corporate tax return, offsetting one entity’s profits against another’s losses. Tax grouping is optional and must be elected with th
Kuwait applies a 15 % corporate income tax exclusively to foreign-owned entities. Kuwaiti and GCC nationals pay no CIT — they are subject instead to 1 % Zakat and 2.5 % NLST (National Labour Support Tax). Kuwait is the only GCC country where the
Oman levies a 15 % corporate income tax on all entities operating in the Sultanate, with a reduced 3 % rate for SMEs with taxable income below OMR 100,000. Free zone entities in Sohar, Duqm, Salalah, and Mazunah can receive tax holidays of up
Qatar levies a flat 10 % corporate income tax on the taxable profits of all entities, both foreign and Qatari-owned. This is a unified rate — unlike Saudi Arabia, which splits between 20 % CIT for foreign entities and 2.5 % Zakat for nationals. Q
The UAE’s transfer pricing framework under Ministerial Decision No. 97 of 2023 aligns with the OECD Transfer Pricing Guidelines. All related-party transactions must follow the arm’s length principle — meaning prices between connected entities mus
