The Saudi Zakat, Tax and Customs Authority (ZATCA) urged taxpayers to take advantage of the initiative before the new deadline
Taxation
Latest in Taxation
Ministry of Finance
UAE to apply reverse VAT charge on scrap-metal trading from January 2026
New Cabinet decision shifts VAT accounting to buyers in a move aimed at curbing fraud and strengthening tax compliance in the metal-scrap sector
Abu Dhabi
UAE announces major changes to corporate tax rules
Changes explain how corporate tax liabilities are settled and give businesses the right to claim payments in certain cases
Excise tax
UAE announces two tiers of ‘sugar tax’ starting the New Year
Ministry of Finance announces tiered taxes ranging AED0.79-AED1.09 per litre on drinks that have more than 5 grams of sugar per 100ml starting 1 January
Excise tax
UAE to introduce new sugar drink tax from January 2026
Drinks will be taxed by sugar content under updated GCC-aligned rules
High Net Worth Individuals
Britain’s millionaires plot exit as Labour tax plans rattle the rich
16,500 millionaires are expected to leave the UK this year – the first time in a decade a European country tops global outflows
Corporate tax
UAE Corporate Tax: Businesses must register July 31 or face $2,723 penalty
The initiative applies to Corporate Taxpayers and certain exempt persons who are required to register with the FTA in the UAE
Corporate tax
UAE announces new tax benefits for fair value investment properties
UAE taxpayers who elect for the realisation basis can now deduct depreciation from their taxable income for investment properties maintained on a fair value basis
Ministry of Finance - Saudi Arabia
Saudi Arabia extends cancellation of fines and exemption of penalties by 6 months
Minister of Finance approves the extension to taxpayers under all Saudi tax laws, starting July 1 this year until 31 December
cigarettes
Egypt to raise cigarette prices annually by 12% over the next three years
The price rise is part of the government’s efforts to expand the tax base and raise public revenues amid ongoing financial pressures
Income Tax
Personal income tax comes into effect in Oman from January 1, 2028
Only 1% of population in the tax net as the first personal IT law imposes 5% tax on those with income above $109,230, after deductions
content creators
UAE tax authority launches new Moáther package to support influencer tax compliance
FTA aims to support business sectors by providing them with tools for self-compliance with UAE tax legislation
