BCB January: taxes, laws & trade shows

Date Posted:Wed, 18th Jan 2023

Last month we advised on the advent of corporation tax in the UAE and we'll bring you more on that in the coming months as its implementation and impact starts to become more clear. However, we start 2023 with the glad tidings of a surprise tax reversal: the 30% municipality tax on alcoholic drinks in Dubai was dropped on January 1st. So much for Dry January...

Whilst this action is aimed more at the consumer - ostensibly to boost tourism - than businesses, I did a count of new UAE legislation in the last 12 months and tallied seven new significant laws that have been announced. This illustrates why it's important for new companies to the region to seek out professional support in order to be fully apprised of recent developments (including the new mandatory unemployment insurance scheme for employees that was announced at the start of the month too).

With the new year underway, we're in the midst of our busiest time of the year with Arab Health and Gulfood trade shows happening in the coming month - see the below articles for further information on these perennially strong sectors for UK exporters to the Middle East.