Skip to content Skip to Search
Skip navigation

Government

MOI building - Saudi Arabia

Anti-corruption squad arrests Saudi government employees

Government employees were among 145 people arrested in Saudi Arabia over corruption charges last month. The country’s Oversight and Anti-Corruption Authority (Nazaha) conducted 1,462 “oversight visits” in December, during which 390 accused individuals were investigated and the arrests made. Those involved worked for a range of government agencies including the ministries of the interior, defence, […]

A shopper at a Dubai street market. The indirect tax revenues bolster economic growth, the ministry of finance said

UAE indirect taxes generate up to $3bn per year

Indirect taxes in the UAE generate between AED10 and AED11 billion ($2.72 billion-2.99 billion) annually, contributing substantially to the Gulf state’s AED65 billion federal budget, a senior government official has said. These tax revenues bolster economic growth and fortify the federal government’s financial position, the UAE state-run Wam news agency reported, quoting Younis Haji Al Khoori, […]

Qatar's energy minister Saad Al-Kaabi said the 5 percent of generated revenue of QatarEnergy means '5 percent of generated revenue of the Qatar state'

Qatar threatens LNG halt over EU due diligence law

Qatar has threatened to cease liquefied natural gas (LNG) shipments to the European Union (EU) if the bloc enforces a corporate sustainability due diligence directive, according to a news report. The directive, set to take effect in 2027, imposes penalties for companies failing to meet stringent standards on environmental protection and forced labour in supply […]

Saudi finance minister Mohammed Al-Jadaan and IMF managing director Kristalina Georgieva at a meeting in Washington, DC in October

More taxes could shield GCC from protectionism, says IMF

GCC countries should consider new taxation options to shore up their public finances and shield their economies from rising global protectionism, according to the International Monetary Fund.   That means regional governments need to continue diversifying away from fossil fuels and boost the role of the private sector, all the while identifying new tax revenues and […]

Keir Starmer with Crown Prince Mohammed bin Salman. The British prime minister visited Saudi Arabia and the UAE on his trip

UK company to open ‘miracle material’ factory in Saudi Arabia

The world’s first commercial production facility for graphene-enriched carbon fibre is to be built in Saudi Arabia, its backers have announced.  Graphene Innovations Manchester (GIM) – a UK company that is developing the “miracle material” said to be stronger than diamond, more conductive than copper and more flexible than rubber – has signed an agreement […]

UAE deputy prime minister and finance minister Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum. The ministry said the tax system is "aligned with global standards"

UAE to introduce 15% tax on large multinationals

The UAE is to increase corporate tax on large multinational enterprises (MNEs) to 15 percent from January 1 2025, the Ministry of Finance has announced. MNEs currently pay 9 percent of their profits in the Emirates. The domestic minimum top-up tax (DMTT) will apply to multinational enterprises with consolidated global revenues of €750 million ($793 […]

Tunisian prime minister Kamel Madouri speaks in parliament during a session to discuss the 2025 budget

Tunisia seeks $2.2bn from central bank to repay debts

Tunisia’s central bank will provide $2.2 billion to the government to help repay debts next year, according to news reports. The funding follows the parliamentary approval of a budget law amendment that allows the government to borrow directly from the central bank. This marks the second instance within a year of the government tapping the central […]

Shoppers walk past a coffee shop at a shopping mall in Ankara, Turkey

Turkish consumer confidence slides as inflation persists

Turks appear to have taken to heart government efforts to cool the economy and rein in inflation, with the latest consumer confidence survey showing a dip in outlook, reversing a five-month upward trend. Turkey’s consumer confidence slipped further into negative territory in November, according to data issued by statistics agency Turkstat on November 21, as […]

Some of Abu Dhabi's mangroves, which absorb carbon dioxide from the atmosphere. The UAE is the third-highest emitter in the Middle East, according to the IEA

UAE law could make emissions reporting mandatory

The UAE has introduced a new climate law, set to take effect next year, as part of its broader push to achieve net zero emissions by 2050.  Experts told AGBI the federal decree on the reduction of climate change effects is expected to have significant near-term implications for many businesses, potentially making it mandatory for […]

Shoppers in Istanbul's Grand Bazaar. Consumers are expected to push back against Turkey's tax plan because large corporations are 'not seen as contributing fairly'

Turkey ramps up taxes to spend on defence tech

Turkey’s government has proposed a raft of taxes on everything from credit cards to watches in order to fund increased spending on defence research and development. The ruling Justice and Development Party tabled draft legislation for the levies with parliament’s finance committee on October 11.  In recent years Turkey has made a priority of developing its […]