GCC Tax and Financial Updates H1 2024

Introduction

As we progress through 2024, We are pleased to share the latest tax updates and initiatives impacting our industry. Our dedication to leading in tax consultancy ensures we provide you with the most current and relevant information.

In the UAE, there have been significant developments in Value Added Tax (VAT) and Corporate Tax. Updates include enhancements to the UAE VAT EmaraTax Portal, detailed guides on VAT group formation and management, and clarifications regarding manpower versus visa facilitation services and the VAT treatment of directors’ functions.

On the corporate tax front, we have new guidance on tax groups, qualifying group relief, and investment funds. The introduction of corporate tax registration deadlines and public consultations on global minimum tax rules demonstrate our proactive approach to evolving regulations.

We also bring you updates from the GCC region, including KSA’s tax amnesty extension and Qatar’s new tax treaties. Oman and Bahrain have made progress in tax treaty negotiations and VAT implementation, respectively.

Our commitment to providing comprehensive tax consultancy services remains strong. We are expanding our presence in the GCC, aiming to be among the top firms in the region. Your trust and partnership are essential to our success, and we look forward to continuing this journey together.

Disclaimer: The Content offer general guidance and should not be considered legal, financial, or tax advice. Consult qualified professionals for personalized guidance. While efforts have been made to ensure accuracy, no guarantee is provided for completeness or applicability to individual situations. Users are responsible for their interpretation and actions based on this information, at their own risk.

For understanding more about VAT Updates, Tax Law and Registration reach out to us at:contact@acme-group.me | +971 52 740 1169