Tax and Regulatory Challenges for UAE Businesses

Tax and regulatory challenges for UAE businesses – Recent VAT law changes, taking advantage of reduced tax penalties and managing VAT through put risk.

Foreword:

There have seen unprecedented economic changes as COVID 19 caused world-wide health crisis, lockdowns causing disruptions and affecting supply chains. Resolving liquidity problems and achieving cost reduction was key for survival for SME’S and all other businesses. Focus has now shifted towards faster recovery, business re-bound, sustainable growth, and to preserve and create long term value.

The Government has taken many steps to promote business recovery, announcing relief packages for lowering the cost of doing business, financial support to many sectors, ease of doing business and the new 100% foreign ownership laws. There have been significant changes in the Tax & Regulatory compliance to promote better investment environment, transparency and international best practices.