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Tax

Tax news from the Middle East. All the important stories, exclusive interviews, plus authoritative opinion and analysis

The Green Data Centre at the Mohammed Bin Rashid Al Maktoum Solar Park. More help is needed to fund sustainable energy projects, says Mashreq Bank

Mashreq calls for state help to push green financing

The UAE needs to introduce new incentives, subsidies and tax rebates to increase financing for sustainability projects in the country, a senior executive at Mashreq Bank has told AGBI. “We need the government to introduce incentives and subsidies to create the momentum, the tsunami of sustainable finance,” said Faisal Al Shimmari, Mashreq Bank’s head of […]

Bahrain tax

Bahrain’s expat tax move ‘likely to be replicated GCC-wide’

Bahrain is proposing to levy a tax on expatriate remittances, a move an industry expert believes is likely to be replicated in other neighbouring Gulf countries. Members of parliament in the kingdom this week supported a revised proposal which would mean expat remittances face a two percent tax. “It would not surprise me if other […]

Oman ruler Sultan Haitham bin Tariq (2nd L) pictured at a meeting in Brussels in December. The draft of the new personal income tax now moves to the sultan for final approval

Oman makes key changes to draft income tax law

Oman has issued a new draft personal income tax law with key amendments, raising the exemption threshold and lowering proposed tax rates. The timeline for the law’s implementation remains uncertain. The latest draft, which was delayed last year, has been approved by the State Council and Majlis Al Shura and will now move to Sultan […]

UAE economy minister Abdulla Bin Touq Al Marri speaking at Davos, where he said UAE income tax 'is not coming anytime soon'

Income tax ‘not on the table’ says UAE minister

The UAE has no plans to introduce income tax, economy minister Abdulla bin Touq Al Marri has said, dismissing speculation the country was in discussions to end its traditional tax-free status. Speaking at the World Economic Forum in Davos, the minister also criticised the EU for keeping the Gulf nation on its blacklist of countries […]

Mature old Chief Executive presents a young male speaker that is supposed to conduct a business presentation while standing in the board room with pan

Kuwait expects tax income to soar by 79%

Kuwait expects its tax income to soar by nearly 79 percent annually when all taxes take effect within an International Monetary Fund-proposed tax reform programme. In a report published on Wednesday, the Arabic language daily Alqabas said taxes are projected to fetch Kuwait around 613 million dinars ($2 billion) in its 2024-2025 budget, which started […]

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