The UAE currently has no system of federal income taxation. Instead, most of the emirates – including Dubai – enacted their own corporate tax decrees in the late 1960s. These...
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Although Dubai has traversed some challenging economic territory over recent years the economic stimulus of Expo 2020 preparation and more stable oil prices have eased this strain in 2019, and business sentiment has improved accordingly. With the long-anticipated expo event set to take place in 2020, attention has started to focus on the important question of sustaining the current economic momentum over the medium term.
Articles & Analysis | Kuwait’s tax reforms aimed at shoring up the post-oil economy from The Report: Kuwait 2019
After years of abundant public spending, GCC economies experienced a direct hit on their fiscal balances caused by the 2014 fall in oil prices. As such, Kuwait is following the regional trend of pursuing economic and fiscal reform programmes. Multiple government-led initiatives seek to support economic diversification, strengthen the private...
Interviews & Viewpoints | Alok Chugh, Partner, Government and Public Sector Leader MENA, EY: Interview from The Report: Kuwait 2019
What steps is Kuwait taking to engage in new international tax regulations and practices?
Chapter | Tax & Accountancy from The Report: Kuwait 2019
After years of abundant public spending, GCC economies experienced a direct hit on their fiscal balances caused by the 2014 fall in oil prices. As...
With the sixth-largest proven oil reserves in the world, and an industry that dates back to the early days of oil and gas dominance in energy, Kuwait is among the world’s principal hydrocarbons powers. Yet, given the lower oil prices seen in global markets in recent years, initiatives outlined in the New Kuwait 2035 development plan come at a critical time in terms of enhancing the state’s competitiveness as a destination for foreign direct investment.