www.agbi.com Open in urlscan Pro
13.33.252.96  Public Scan

URL: https://www.agbi.com/finance/2024/02/oecd-rates-uaes-free-zone-corporate-tax-non-harmful/
Submission: On December 06 via api from US — Scanned from CA

Form analysis 2 forms found in the DOM

GET https://www.agbi.com

<form action="https://www.agbi.com" role="search" method="get" class="search-bar" data-hs-cf-bound="true">
  <input class="search-bar__input" type="text" name="s" id="search" value="" placeholder="Search">
  <input class="search-bar__icon" type="image" alt="Search" src="https://www.agbi.com/content/themes/agbi/src/images/icons/search.svg">
</form>

POST https://agbi.us14.list-manage.com/subscribe/post

<form action="https://agbi.us14.list-manage.com/subscribe/post" method="POST" class="form form--newsletter js-mailchimp" data-success="Thank you for signing up to our newsletter." data-error="Sorry, there was an error. Please try again."
  data-hs-cf-bound="true">
  <div class="form__full form__title">Sign up to our newsletter</div>
  <label for="mce-FNAME" class="screen-reader-text">First name</label>
  <input type="text" value="" name="FNAME" id="mce-FNAME" placeholder="First name" class="form__half" required="">
  <label for="mce-LNAME" class="screen-reader-text">Last name</label>
  <input type="text" value="" name="LNAME" id="mce-LNAME" placeholder="Last name" class="form__half" required="">
  <label for="EMAIL" class="screen-reader-text">Email address</label>
  <input type="email" value="" name="EMAIL" id="mce-EMAIL" placeholder="Email address" class="form__full" required="">
  <div class="form__checkbox">
    <input type="checkbox" id="mce-TERMS" required="">
    <label for="mce-TERMS">By ticking this box you agree to our <a href="https://www.agbi.com/privacy-terms-conditions/" target="_blank">Terms &amp; Conditions</a>.<br>You can unsubscribe at any time<br></label>
  </div>
  <input type="hidden" name="u" value="6dad398e61eeeae726961d9fd">
  <input type="hidden" name="id" value="9d63dc202b">
  <input type="hidden" name="tags" value="7341264">
  <input type="hidden" name="c" value="formResponse">
  <button type="submit" class="button button--dark form__button form__half">Submit</button>
  <div class="form__half form__response js-form-error"></div>
</form>

Text Content

We value your privacy

We do not sell your personal data or give it to anyone else. We use cookies to
deliver marketing messages, advertising, and analyse our content performance. By
clicking "Accept", you consent to our use of cookies. Cookie Policy

Customise Do not consent Accept
Customize Consent Preferences

We use cookies to help you navigate efficiently and perform certain functions.
You will find detailed information about all cookies under each consent category
below.

The cookies that are categorized as "Necessary" are stored on your browser as
they are essential for enabling the basic functionalities of the site. ... Show
more

For more information on how Google's third-party cookies operate and handle your
data, see: Google Privacy Policy


NecessaryAlways Active

Necessary cookies are required to enable the basic features of this site, such
as providing secure log-in or adjusting your consent preferences. These cookies
do not store any personally identifiable data.

 * Cookie
   FPGSID
 * Duration
   1 hour
 * Description
   Description is currently not available.

 * Cookie
   __eoi
 * Duration
   6 months
 * Description
   Description is currently not available.

 * Cookie
   __cf_bm
 * Duration
   1 hour
 * Description
   This cookie, set by Cloudflare, is used to support Cloudflare Bot Management.

 * Cookie
   _cfuvid
 * Duration
   session
 * Description
   
   Hubspot sets this cookie to track users across sessions to optimize user
   experience by maintaining session consistency and providing personalized
   services

 * Cookie
   __hssrc
 * Duration
   session
 * Description
   This cookie is set by Hubspot whenever it changes the session cookie. The
   __hssrc cookie set to 1 indicates that the user has restarted the browser,
   and if the cookie does not exist, it is assumed to be a new session.

 * Cookie
   __hssc
 * Duration
   1 hour
 * Description
   HubSpot sets this cookie to keep track of sessions and to determine if
   HubSpot should increment the session number and timestamps in the __hstc
   cookie.

 * Cookie
   __hstc
 * Duration
   6 months
 * Description
   Hubspot set this main cookie for tracking visitors. It contains the domain,
   initial timestamp (first visit), last timestamp (last visit), current
   timestamp (this visit), and session number (increments for each subsequent
   session).

 * Cookie
   hubspotutk
 * Duration
   6 months
 * Description
   HubSpot sets this cookie to keep track of the visitors to the website. This
   cookie is passed to HubSpot on form submission and used when deduplicating
   contacts.

 * Cookie
   _cbt
 * Duration
   session
 * Description
   Description is currently not available.

 * Cookie
   _gcl_gs
 * Duration
   3 months
 * Description
   Description is currently not available.

 * Cookie
   _GRECAPTCHA
 * Duration
   6 months
 * Description
   Google Recaptcha service sets this cookie to identify bots to protect the
   website against malicious spam attacks.

 * Cookie
   rc::a
 * Duration
   Never Expires
 * Description
   This cookie is set by the Google recaptcha service to identify bots to
   protect the website against malicious spam attacks.

 * Cookie
   rc::f
 * Duration
   Never Expires
 * Description
   This cookie is set by the Google recaptcha service to identify bots to
   protect the website against malicious spam attacks.

 * Cookie
   rc::c
 * Duration
   session
 * Description
   This cookie is set by the Google recaptcha service to identify bots to
   protect the website against malicious spam attacks.

 * Cookie
   rc::b
 * Duration
   session
 * Description
   This cookie is set by the Google recaptcha service to identify bots to
   protect the website against malicious spam attacks.

 * Cookie
   wordpress_7e87d63831908c338f3e44621f6d524c
 * Duration
   past
 * Description
   Description is currently not available.

 * Cookie
   wordpress_sec_7e87d63831908c338f3e44621f6d524c
 * Duration
   past
 * Description
   Description is currently not available.

 * Cookie
   wordpress_logged_in_7e87d63831908c338f3e44621f6d524c
 * Duration
   past
 * Description
   Description is currently not available.

 * Cookie
   wp-settings-0
 * Duration
   past
 * Description
   Description is currently not available.

 * Cookie
   wp-settings-time-0
 * Duration
   past
 * Description
   Description is currently not available.

 * Cookie
   wordpressuser_7e87d63831908c338f3e44621f6d524c
 * Duration
   past
 * Description
   Description is currently not available.

 * Cookie
   wordpresspass_7e87d63831908c338f3e44621f6d524c
 * Duration
   past
 * Description
   Description is currently not available.

 * Cookie
   wp-postpass_7e87d63831908c338f3e44621f6d524c
 * Duration
   past
 * Description
   Description is currently not available.

 * Cookie
   wordpress_test_cookie
 * Duration
   session
 * Description
   WordPress sets this cookie to determine whether cookies are enabled on the
   users' browsers.

 * Cookie
   cookieyes-consent
 * Duration
   1 year
 * Description
   CookieYes sets this cookie to remember users' consent preferences so that
   their preferences are respected on subsequent visits to this site. It does
   not collect or store any personal information about the site visitors.

Functional


Functional cookies help perform certain functionalities like sharing the content
of the website on social media platforms, collecting feedback, and other
third-party features.

 * Cookie
   lidc
 * Duration
   1 day
 * Description
   LinkedIn sets the lidc cookie to facilitate data center selection.

 * Cookie
   yt-remote-device-id
 * Duration
   Never Expires
 * Description
   YouTube sets this cookie to store the user's video preferences using embedded
   YouTube videos.

 * Cookie
   ytidb::LAST_RESULT_ENTRY_KEY
 * Duration
   Never Expires
 * Description
   The cookie ytidb::LAST_RESULT_ENTRY_KEY is used by YouTube to store the last
   search result entry that was clicked by the user. This information is used to
   improve the user experience by providing more relevant search results in the
   future.

 * Cookie
   yt-remote-connected-devices
 * Duration
   Never Expires
 * Description
   YouTube sets this cookie to store the user's video preferences using embedded
   YouTube videos.

 * Cookie
   yt-remote-cast-installed
 * Duration
   session
 * Description
   The yt-remote-cast-installed cookie is used to store the user's video player
   preferences using embedded YouTube video.

 * Cookie
   yt-remote-session-app
 * Duration
   session
 * Description
   The yt-remote-session-app cookie is used by YouTube to store user preferences
   and information about the interface of the embedded YouTube video player.

 * Cookie
   yt-remote-session-name
 * Duration
   session
 * Description
   The yt-remote-session-name cookie is used by YouTube to store the user's
   video player preferences using embedded YouTube video.

 * Cookie
   yt-remote-fast-check-period
 * Duration
   session
 * Description
   The yt-remote-fast-check-period cookie is used by YouTube to store the user's
   video player preferences for embedded YouTube videos.

Analytics


Analytical cookies are used to understand how visitors interact with the
website. These cookies help provide information on metrics such as the number of
visitors, bounce rate, traffic source, etc.

 * Cookie
   _lfa
 * Duration
   1 year
 * Description
   This cookie is set by the provider Leadfeeder to identify the IP address of
   devices visiting the website, in order to retarget multiple users routing
   from the same IP address.

 * Cookie
   _chartbeat2
 * Duration
   1 year 1 month
 * Description
   Chartbeat sets this cookie to be used by the web analytics company to
   register whether the user has visited the website before.

 * Cookie
   _ga_*
 * Duration
   1 year 1 month 4 days
 * Description
   Google Analytics sets this cookie to store and count page views.

 * Cookie
   _ga
 * Duration
   1 year 1 month 4 days
 * Description
   Google Analytics sets this cookie to calculate visitor, session and campaign
   data and track site usage for the site's analytics report. The cookie stores
   information anonymously and assigns a randomly generated number to recognise
   unique visitors.

 * Cookie
   FPLC
 * Duration
   20 hours
 * Description
   Google Tag Manager sets this cookie for tracking between domains.

 * Cookie
   _cb
 * Duration
   1 year 1 month
 * Description
   Chartbeat sets this cookie to collect data such as visitors' IP addresses,
   geographical locations and website navigation. This information is used for
   internal optimization and statistics for the website's operator.

 * Cookie
   _cb_svref
 * Duration
   1 hour
 * Description
   Chartbeat sets this cookie to store the original referrer for this site
   visitor.

 * Cookie
   _fbp
 * Duration
   3 months
 * Description
   Facebook sets this cookie to display advertisements when either on Facebook
   or on a digital platform powered by Facebook advertising after visiting the
   website.

 * Cookie
   _cb_svref_expires
 * Duration
   Never Expires
 * Description
   ChartBeat sets this cookie for webshop statistics.

 * Cookie
   _lfa_test_cookie_stored
 * Duration
   Less than a minute
 * Description
   Description is currently not available.

 * Cookie
   FPAU
 * Duration
   3 months
 * Description
   Google Tag Manager sets this cookie for analytics and reporting purposes to
   gather data about the user and their activity on the website.

Performance

Performance cookies are used to understand and analyze the key performance
indexes of the website which helps in delivering a better user experience for
the visitors.

No cookies to display.

Advertisement


Advertisement cookies are used to provide visitors with customized
advertisements based on the pages you visited previously and to analyze the
effectiveness of the ad campaigns.

 * Cookie
   bcookie
 * Duration
   1 year
 * Description
   LinkedIn sets this cookie from LinkedIn share buttons and ad tags to
   recognize browser IDs.

 * Cookie
   li_gc
 * Duration
   6 months
 * Description
   Linkedin set this cookie for storing visitor's consent regarding using
   cookies for non-essential purposes.

 * Cookie
   YSC
 * Duration
   session
 * Description
   Youtube sets this cookie to track the views of embedded videos on Youtube
   pages.

 * Cookie
   VISITOR_INFO1_LIVE
 * Duration
   6 months
 * Description
   YouTube sets this cookie to measure bandwidth, determining whether the user
   gets the new or old player interface.

 * Cookie
   VISITOR_PRIVACY_METADATA
 * Duration
   6 months
 * Description
   YouTube sets this cookie to store the user's cookie consent state for the
   current domain.

 * Cookie
   test_cookie
 * Duration
   15 minutes
 * Description
   doubleclick.net sets this cookie to determine if the user's browser supports
   cookies.

 * Cookie
   _gcl_aw
 * Duration
   3 months
 * Description
   DoubleClick sets this cookie to understand user interaction with the site and
   advertising.

 * Cookie
   yt.innertube::requests
 * Duration
   Never Expires
 * Description
   YouTube sets this cookie to register a unique ID to store data on what videos
   from YouTube the user has seen.

 * Cookie
   yt.innertube::nextId
 * Duration
   Never Expires
 * Description
   YouTube sets this cookie to register a unique ID to store data on what videos
   from YouTube the user has seen.

Uncategorized


Other uncategorized cookies are those that are being analyzed and have not been
classified into a category as yet.

 * Cookie
   AGBID
 * Duration
   1 year 1 month 4 days
 * Description
   Description is currently not available.

 * Cookie
   TESTCOOKIESENABLED
 * Duration
   1 minute
 * Description
   Description is currently not available.

 * Cookie
   FPGCLAW
 * Duration
   3 months
 * Description
   Description is currently not available.

 * Cookie
   FPGCLGS
 * Duration
   3 months
 * Description
   Description is currently not available.

 * Cookie
   __Secure-ROLLOUT_TOKEN
 * Duration
   6 months
 * Description
   Description is currently not available.

Do not consent Save My Preferences Accept

Skip to content Skip to Search
December 6, 2024
 * About us
 * Partner with AGBI

Login | Register

Skip navigation
 * GCC economic data
   * Bahrain economy
   * Kuwait economy
   * Oman economy
   * Saudi Arabia economy
   * Qatar economy
   * United Arab Emirates economy
 * Mena economic data
 * Sectors
   * Aviation
   * Artificial Intelligence
   * Business of Sport
   * Construction
   * Cybersecurity
   * Economy
   * Energy
   * Entrepreneurs
   * Finance
   * Food & Drink
   * Gaming
   * Giga-projects
   * Health
   * Industry
   * Infrastructure
   * Logistics
   * Manufacturing
   * Markets
   * Oil & Gas
   * Real Estate
   * Retail
   * Sustainability
   * Tax
   * Tech
   * Telecoms
   * Tourism
   * Trade
   * Transport
 * Middle East
   * All Middle East
   * GCC
   * UAE
   * Saudi Arabia
   * Bahrain
   * Kuwait
   * Oman
   * Qatar
   * Dubai
   * Abu Dhabi
   * Turkey
   * Egypt
   * Jordan
   * Lebanon
 * Opinion
   * All Opinion
   * All Writers
   * Frank Kane
   * Hussain Al Alawi
   * Austyn Allison
   * Simon Chadwick
   * Lucy Chow
   * Andrew Cunningham
   * Chris Doyle
   * John Grant
   * Sami Hamdi
   * Katy Holmes
   * Martin Keulertz
   * Matein Khalid
   * Scott Livermore
   * Alex Malouf
   * Robin Mills
   * Dr Nasser Saidi
 * Analysis
 * Interviews
 * Topics
   * Blockchain
   * Cryptocurrency
   * Electric vehicles
   * Food security
   * Hydrogen
   * IPOs
   * Islamic finance
   * Israel Hamas War
   * M&A
   * Metaverse
   * Neom
   * Opec
   * Red Sea Global
   * Robotics
   * Saudi Vision 2030
   * Space
   * Ukraine-Russia war
   * Water
 * Lifestyle
   * People
   * Work / Life
   * Entertainment
   * Arts
   * Education
 * World
   * Africa
   * Asia
   * Europe
   * North America
   * Latin America
 * About us
 * Partner with AGBI
 * Authors
 * Executive Team
 * Login
 * Register with AGBI

 * Energy
 * Construction
 * Finance
 * Transport
 * Tech
 * Sport
 * Opinion
 * Analysis
 * Economic Data


All sections
 * Finance


OECD RATES UAE’S FREE ZONE CORPORATE TAX ‘NON-HARMFUL’

By Pramod Kumar
February 11, 2024, 6:24 AM
 * 
 * 
 * 
 * 

REUTERS/Phil Noble
The UAE’s free zone corporate tax regime was evaluated and confirmed to align
with global initiatives to prevent tax avoidance and harmful tax practices

The UAE free zone corporate tax (CT) regime has been recognised as ‘non-harmful’
by the Paris-based policy forum Organisation for Economic Co-operation and
Development (OECD), the Gulf state’s finance ministry said.

The findings were disclosed in the results from an October 2023 meeting on
harmful tax practices, the UAE state-owned Wam news agency reported.

The rating is part of the OECD’s comprehensive review of 322 taxation regimes
worldwide.

According to the findings, the UAE’s free zone corporate tax regime was
evaluated and confirmed to align with global initiatives to prevent tax
avoidance and harmful tax practices.

“The OECD rating of ‘non-harmful’ is a testament to the UAE’s commitment to
transparency, non-harmful taxation, and the implementation of best practices in
tax policy,” said Mohamed Hadi Al Hussaini, minister of state for financial
affairs.

The ministry remains dedicated to further refining the country’s nation’s tax
framework, ensuring its economic diversification and development, he added.

The UAE introduced its nationwide corporate tax regime in 2023 as a strategic
move designed to accelerate the UAE’s development and transformation, aligning
with its long-term strategic objectives to diversify its economy.

As per the finance ministry, corporate tax rates are zero percent for taxable
income up to AED375,000 ($100,000) and nine percent for taxable income above
AED375,000.

Free zones are central to the UAE’s economic growth, attracting foreign direct
investment and fostering a favourable business environment.

The recognition by the OECD comes as AGBI reported last week that the UAE has
made “positive steps” to meet anti-money laundering and terrorism funding
standards and is likely to be removed from an international grey list later this
month.

Experts say this will provide a major boost to the Gulf state’s economy.

The country was placed under enhanced supervision – known as the grey list – in
March 2022 after the Financial Action Task Force (FATF) cited “strategic
deficiencies” in the systems it uses to counter financial crime.

A decision on the UAE’s grey list status is expected to be made on February 23.


RELATED CONTENT:

 * Economy
 * Finance
 * Tax

 * Opinion
 * Trade


GULF IS NOT IMMUNE TO TRUMP’S TARIFF THREATS

President-elect’s de-dollarisation warnings are likely to flounder amid complex
economic realities

December 5, 2024
 * Food & Drink


DUBAI TO REINTRODUCE 30% ALCOHOL TAX

Dubai will reintroduce the 30 percent sales tax on alcohol in January, according
to an email sent by a local alcohol distributor to venues in the city.  The
correspondence sent by MMI, which also operates off licences in the city, said:
“Please note, Dubai Government have informed us the 30 percent municipality tax
on alcoholic […]

December 5, 2024
 * Banking & Finance


EDB HAILS $305M IN FINANCING FOR AGRICULTURE BUSINESSES

One dirham in 12 lent by Emirates Development Bank in the past three years has
gone into financing for agriculture technology and food production businesses,
the bank said on Thursday. EDB said the AED1.12 billion ($305 million) of loans
represent 8 percent of the AED14.72 billion of financing it has provided since
April 2021.  It […]

December 5, 2024


TRENDING


 1. DUBAI TO REINTRODUCE 30% ALCOHOL TAX
    
    December 5, 2024


 2. OMAN’S OQBI POISED TO MAKE MUSCAT BOURSE DEBUT
    
    December 5, 2024


 3. EGYPT TO LIST MILITARY-LINKED COMPANIES SAYS PM
    
    December 5, 2024


LATEST ARTICLES

 * Oil & Gas


OPEC+ DELAYS OIL OUTPUT HIKE UNTIL APRIL

Opec+ on Thursday pushed back the start of oil output rises by three months
until April and extended the full unwinding of cuts by a year until the end of
2026 due to weak demand and booming production outside the group. Cuts had been
scheduled to begin unwinding from October 2024 but a slowdown in […]

6 hours ago
 * Agriculture


ALMARAI TO FORAY INTO FOOD SEGMENTS BEYOND DAIRY

Almarai, the largest dairy producer in Saudi Arabia, will launch seafood and red
meat facilities to help achieve the Vision 2030 goal of becoming food
self-reliant. The company is building domestic production facilities for seafood
and beef and lamb, which will become operational in two years, Bloomberg
reported, citing CEO Abdullah Albader. In March, Almarai […]

7 hours ago
 * Markets


OMAN’S OQBI POISED TO MAKE MUSCAT BOURSE DEBUT

Oman’s OQ Base Industries will debut on Muscat’s bourse on December 15 after the
state oil company subsidiary completed a $489 million initial public offering.
OQBI, the third OQ unit to float since March 2023, has offloaded 49 percent of
its shares. Of the shares sold, 30 percent went to institutions, 40 percent to
retail […]

9 hours ago
 * Manufacturing


TURKISH ARMS EXPORTS UP 19% YEAR ON YEAR

Turkish defence companies have posted another record-breaking year for exports,
with a 19 percent increase year on year and sales to 178 countries. Sales from
January to November this year have already eclipsed 2023’s total of arms and
equipment shipments to overseas clients, reflecting the arms industry’s
technical developments and broader product range.  Defence and […]

9 hours ago
Sign up to our newsletter
First name Last name Email address
By ticking this box you agree to our Terms & Conditions.
You can unsubscribe at any time

Submit

 * Partner with AGBI
 * Contact us

 * United Arab Emirates
 * Saudi Arabia
 * Kuwait
 * Qatar

Follow us on:

Twitter LinkedIn Facebook YouTube
 * Cookie Policy
 * Privacy / Terms & Conditions

© 2024 AGBI, part of Link Media Corporation Ltd.


REGISTER NOW: IT’S EASY AND FREE

AGBI registered members can access even more of our unique analysis and
perspective on business and economics in the Middle East.

Register Now

I'll register later

Already registered? Sign in


WHY SIGN UP

 * Exclusive weekly email from our editor-in-chief
 * Personalised weekly emails for your preferred industry sectors
 * Read and download our insight packed white papers
 * Access to our mobile app
 * Prioritised access to live events

Download the AGBI app today