Economy

The Ministry of Finance announced the issuance of UAE Cabinet Decision No. (49) of 2023 on the treatment of resident and non-resident individuals undertaking a business or business activity, for the Corporate Tax Law purposes. His Excellency Younis Haji Al Khouri, Undersecretary of the Ministry of Finance, said: “The new …

Gold prices ticked down today, pressured by an overall strength in the dollar, Reuters reported. Spot gold fell 0.2 percent to US$2,010.63 per ounce by 07.20 GMT and was down 0.2 percent for the week. US gold futures shed 0.3 percent to US$2,015.00. Spot silver fell 0.7 percent to US$24.01 …

The Ministry of Finance has issued the Ministerial Decision No (97) of 2023 on the Requirements for Maintaining Transfer Pricing Documentation which aims to promote transparency and fairness in the UAE’s tax system. Federal Decree Law No (47) of 2023 on the Taxation of Corporations and Businesses enforces transfer pricing …

Fuel prices for the month of May 2023: Super 98:Before: 3.01AED/LAfter: 3.16 AED/L Special 95:Before: 2.90 AED/LAfter: 3.05 AED/L Diesel:Before: 3.03 AED/LAfter: 2.91 AED/L

The Ministry of Finance unveiled a UAE Cabinet new implementing decision relating to Qualifying Public Benefit Entities for the purposes of the Corporate Tax Law, which is designed to ensure that entities existing and operating for the wider public benefit are eligible for tax exemption. Qualifying public benefit entities are …

The Russian foreign debt stood at $357.9 bn as of 1st April , 2023, the Central Bank said on Thursday, The debt dropped by 5.9% or by $22.6 bn, compared to the figure at the year start, Russian News Agency (TASS) reported, quoting an apex bank statement . “The dynamics …

The Ministry of Economy: • Deterrent penalties will be imposed on suppliers and retailers who do not comply with the decision to raise the prices of eggs and poultry products by a maximum of 13%. • Violators of the provisions of this decision were fined at least AED 10,000, with …

The Ministry of Finance has issued Ministerial Decision No. 73 of 2023 on Small Business Relief for the purposes of Federal Decree-Law No. 47 of 2022 on the Taxation of Corporations and Businesses (the “Corporate Tax Law”). The decision is issued in accordance with Article 21 of the Corporate Tax …

UAE stock markets have benefited from improved investor sentiments today as fears of a global banking collapse have subsided, while rising energy prices have also lifted morale, with the Dubai Financial Market hitting a 6-month high. In the UAE capital, Index FADGI closed 0.367 % higher at 9457.16 pts driven …

The Central Bank of the United Arab Emirates has projected the country’s annual real GDP growth to expand by 4.3 percent in 2024. “After three quarters of high growth, the UAE’s economy maintained a solid footing in Q4 2022, reflecting a strong performance of both the oil and the non-oil …