Recent decades have seen a downward convergence in corporate tax regimes as advanced, emerging and developing economies moved to grab a bigger slice of the global investment pie. Headline corporate tax rates have fallen by 20 percentage points since the early 1980s. Alongside lower average rates, special tax incentives aimed at capturing...
What are government entities doing to promote the development of Dubai’s entrepreneurial economy?
The UAE operates the most decentralised system of government finances in the world, according to the IMF. Under the fiscal model, the national government pays for federal infrastructure, including major roads passing through multiple emirates, as well as spending on social services such as health, education and housing, with emirate-level...
Small and medium-sized enterprises (SMEs) dominate Dubai’s economy, accounting for around 95% of companies operating in the emirate, according to Dubai SME, the Dubai Department of Economic Development’s SME agency. They also generate nearly 40% of the economy’s value added and 42% of employment. The value-added figure breaks down into a...
The number of sovereign wealth funds (SWFs) operating in the GCC has grown in the last decade. The value of these SWFs – created to invest and manage the huge sums flowing into the region from hydrocarbons sales – stood at $2.9trn in March 2017, according to the Sovereign Wealth Fund Institute (SWFI), representing 38.5% of the global total....
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