UAE: Optimism in private sector hits highest level since Covid-19 pandemic

Written by EFBA on September 11, 2023. Posted in Business in UAE. No Comments on UAE: Optimism in private sector hits highest level since Covid-19 pandemic

The UAE’s non-oil sector continued to perform strongly in August on the back of a big increase in new orders, higher investments, and tourism growth, boosting confidence in the private sector to the highest level since the outbreak of the Covid-19 pandemic in early 2020. The seasonally adjusted monthly S&P Global UAE Purchasing Managers’ Index (PMI) released on Tuesday reached 55.0 in August, down from 56.0 in July, signalling a sharp improvement in operating conditions. The PMI is a weighted average of five indices — new orders, output, employment, suppliers’ delivery times,...

UAE F&B sector innovates to keep in tune with the times

Written by EFBA on February 2, 2021. Posted in Business in UAE. 4 Comments on UAE F&B sector innovates to keep in tune with the times

The food and beverages (F&B) sector remains a key component of the UAE economy, especially with the country emerging as a major global tourist hub. Tourism significantly influences the F&B industry in the UAE, with Dubai emerging as a global food tourism destination. Experts have identified a few key drivers of the sector. Firstly, growing tourism attracts diverse culinary preferences. Secondly, evolving consumer preferences – such as the rise in health-conscious and sustainability-driven forces, where F&B establishments adapt menus and practices to meet these demands. Thirdly, the...

UAE corporate tax: Small businesses can opt for tax relief and submit simplified tax return

Written by EFBA on February 1, 2021. Posted in Business in UAE. 3 Comments on UAE corporate tax: Small businesses can opt for tax relief and submit simplified tax return

The UAE government has provided a privilege, called the Small Business Relief (SBR), to small businesses in the UAE to ease the implementation of corporate tax. This relief is only available to resident taxable persons – either a natural or juridical, with a gross business income of up to Dh3 million in the relevant tax period and any previous tax periods that ends on or before December 31, 2026. The Federal Tax Authority (FTA) issued a comprehensive Corporate Tax Guide on the Small Business Relief (CTGSBR1) last week, providing more clarity on the application of the UAE Corporate Tax Law to...