In a recent move, the UAE government has introduced the Small Business Relief (SBR) to support small businesses in managing corporate tax requirements. This privilege is exclusively available to resident taxable individuals, both natural and juridical, with a gross business income of up to Dh3 million in the relevant tax period and any previous tax periods ending on or before December 31, 2026.
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Dubai’s Mohammed bin Rashid Al Maktoum Solar Park’s 4th Phase to Generate Clean Energy for 320,000 Homes and Reduce 1.6 Million Tonnes of Carbon Emissions Annually
Saeed Mohammed Al Tayer, the Managing Director and CEO of Dubai Electricity and Water Authority (DEWA), recently inspected the progress of the 4th phase of the Mohammed bin Rashid Al Maktoum Solar Park, a project set to provide clean energy to approximately 320,000 residences while reducing carbon emissions by 1.6 million tonnes annually. With investments totaling AED 15.78 billion, this phase employs the Independent Power Producer (IPP) model.
Cross-Border Investments and Digitalization Transform Estate Planning for Expatriates
The landscape of estate planning is undergoing a redefinition due to cross-border investments and the advent of digitalization. Expatriates face unique considerations in their estate planning, including inheritance tax and cross-border complexities. For expats residing in Dubai with assets in multiple countries, additional factors such as retirement plans, tax comparisons, beneficiary preferences, and socio-political and economic aspects must be taken into account. Distribution becomes more straightforward for portfolios consisting primarily of bank accounts and intangible assets, as opposed to those with real estate holdings.
ADNEC Group Launches Charter Flights to Europe and Central Asia, Boosting Tourism in Abu Dhabi
ADNEC Group, in partnership with its tourism division Tourism 365, has introduced new charter flight services in the UAE, expanding travel options for international tourists from various regions and further enhancing Abu Dhabi's reputation as a premier global destination.
Emirates Flight Catering Partners with GMG to Provide Ready-to-Go Meals
Proactively envisioned multimedia based expertise and cross-media growth strategies. Seamlessly visualize quality intellectual capital. Quickly coordinate e-business application
Saudi Arabia’s PIF to Acquire Hadeed in $3.3 Billion Deal with Sabic, Creating National Steel Leader
Saudi Arabia's Public Investment Fund (PIF) has entered into a definitive agreement to acquire full ownership of the Saudi Iron & Steel Company (Hadeed) from Saudi Basic Industries Corporation (Sabic) in a transaction valued at 12.5 billion Saudi riyals ($3.3 billion). This move is part of the kingdom's efforts to accelerate its industrial development.