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2 clusters · 8 sources · 9 days · First seen 20 days ago · Last updated 12 days ago

UAE financial and regulatory reforms

Overview

The United Arab Emirates is implementing regulatory and structural changes to its financial landscape. For small and medium-sized enterprises (SMEs), new tax compliance measures have emerged, including a standard corporate tax rate of 9% on taxable income exceeding AED 375,000. Eligible resident businesses with revenue of AED 3 million or less may access Small Business Relief, allowing them to elect to be treated as having no taxable income for specific periods.

In parallel, the Central Bank is advancing an Open Finance framework to modernize financial infrastructure. This initiative establishes a legal and operational basis for secure, consent-based data sharing through a central API Hub and a Trust Framework. Initially focusing on banks and insurance companies, the framework is designed to grant customers more control over their financial data and increase service options via accredited providers.

Entities

Udrive · Central Bank of the UAE · UAE · Dubai · Dollar Car Rental

Timeline

12 days ago

[BUSINESS] 7 sources
UAE advances financial reforms through tax relief and Open Finance
The UAE is evolving its financial landscape with new corporate tax relief options for SMEs and an ambitious Open Finance framework to enhance data sharing and consumer control.
20 days ago

[BUSINESS] 2 sources
UAE consumers adopt flexible rental models for cars and housing
UAE consumers are adopting flexible rental models, with annual car contracts offering significant savings and Dubai's FlexiRent initiative providing more manageable real estate payment options.

Sources

biztoday.news · coinedition.com · creationbc.com · dubaibliss.com · gulfnews.com · khaleejtimes.com · mid-east.info · whatson.ae