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His Highness Sheikh Khalifa Bin Zayed Al Nahyan, President of the UAE, has formally has formally reviewed the related constitutions which correlate to the implementation of VAT.

With VAT implementation taking effect in under six months, the Ministry of Finance are now providing further clarifications of the rules which will be imposed in respect of VAT within the UAE, furthermore we have seen updates across Saudi Arabia recently, with announcements being made in respect of the registration process. This short alert summarises the recent clarifications which the UAE have announced, alongside the registration elements required within Saudi Arabia.

The business environment in which Owner Managed Businesses (OMBs) operate within continues to evolve with the emergence of new technology, innovation, changes in financial management, client needs and increased regulation.

The GCC region is well positioned to exploit the lucrative opportunities that e-commerce offers, given the generational demographic shift that we are witnessing and which will inevitably have a seismic impact on businesses for the future

The gender diversity issue has been on the business agenda for many years now, yet a third of businesses still have no women at a senior management level. We know that significant performance benefits come with having a diverse leadership team and there are certainly a large number of women capable of joining such teams.

Our commitment to quality underpins all that we do. This report is a public statement of Grant Thornton’s commitment to provide high-quality assurance, tax and advisory services to businesses and organisations operating throughout the world.

Following the announcement earlier this year, confirming that the UAE will implement VAT at a rate of 5% from 1 January 2018, the Ministry of Finance (MoF) have released additional details on the impending introduction. Our recent alert provides a highlight of the updates which have been announced which suggests what businesses can be doing now to prepare and provides further insight on the intended reporting plan.

The gender agenda and the benefits of having a diverse board and workplace has long been studied, yet we still see no significant change.

This alert follows on from the update in December 2015 and is intended to provide a brief synopsis of impending Value Added Tax (VAT) which has been confirmed at 5 per cent from 1 Jan 2018.

The future of the insurance landscape is changing and the impact of strategy on mid-market companies is increasing. The Insurance sector in the UAE has recently shown signs of being impacted by the challenging economic environment and lowering oil prices. With new regulation being introduced in January 2015 by the UAE Insurance Authority, insurance companies are still going through the challenge of adapting to the new regulation whilst aiming to remain resilient to economic conditions.

Drawing on data and insight from the Grant Thornton International Business Report (IBR), the International Monetary Fund (IMF) and the World Bank, this report considers the outlook for the global economy in 2016 and explores UAE trends for 2016.

This alert follows on from the update in September 2015 and is intended to provide a brief synopsis of the impending Corporate Tax and Value Added Tax (VAT). To discuss this further, please do not hesitate to contact us.

As consumers use online intermediaries to find the most economical rooms in a convenient location for their trip, hotels face a future in which the strength of their brand has dwindling influence over customer choice. But the hotels that can get branding right in a digital era face a clear opportunity to grow market share.

So will the Base Erosion and Profit Shifting (BEPS) Action Plan result in a tax system that’s fairer, more efficient and more understandable?

More and more fiscal authorities continue to develop their transfer pricing laws. The principles are common, although interpretations differ from one tax authority to another.

This alert is designed to provide a brief synopsis of the impending Corporate Tax and Value Added Tax (VAT) that is currently in discussion. To discuss this further, please do not hesitate to contact us.