Dear Colleagues,
We are pleased to present the latest edition of our GCC Tax and Legal News Digest, bringing you the most important developments from across the region in February and March. Despite the exceptional regional stress caused by the ongoing conflict, life and business continue to move forward, and the Gulf’s authorities remain active in advancing their tax and legal frameworks.
In the UAE, Dubai Customs has introduced urgent facilitation measures to ensure uninterrupted supply chains, allowing cargo to enter the country via the UAE’s eastern ports of Khorfakkan and Fujairah as well as through a temporary green corridor via Oman. Meanwhile, the Ministry of Finance has issued long-awaited guidelines on mandatory e-invoicing, and the FTA has published an updated list of Qualifying Public Benefit Entities for Corporate Tax exemption purposes.
In Qatar, the GTA has released its first Pillar Two guides, providing much-needed clarity on the implementation of the Pillar Two. Saudi Arabia has seen two notable developments: the government has introduced an exemption mechanism allowing state entities to contract with international firms lacking a regional HQ, and ZATCA has published draft economic substance regulations for entities operating in Special Economic Zones, with a public consultation now concluded. In Bahrain, the NBR has updated its VAT Guide on Imports and Exports, and the Parliament has approved an amendment to the Commercial Companies Law introducing a BD 30,000 irrevocable bank guarantee requirement for companies with non-Bahraini partners.
In this edition you will find updates on the following:
UAE
- Ministry of Finance Issues Guidelines on Mandatory E-Invoicing
- FTA Publishes an Updated List of Qualifying Public Benefit Entities for the Purposes of the CIT Exemption
- Dubai Customs Issues Temporary Facilitation for Cargo via Khorfakkan and Fujairah Ports
- Dubai Customs Introduces Temporary Green Corridor via Oman for Diverted Shipments
Qatar
- Qatar Releases First Pillar Two Guides
- Qatar Introduces Capital Gains Tax Relief for Qualifying Group Restructurings
- Qatar Introduces New Long‑Term Residency Visas for Senior Executives and High‑Growth Entrepreneurs
Saudi Arabia
- Government Allowed Exemptions for Contracting with Firms Lacking Regional HQ
- ZATCA Publishes Draft Economic Substance Regulations for Special Economic Zone Entities
Bahrain
- NBR Updates the VAT Guide on Imports and Exports
- Bahrain Introduces an Irrevocable Bank Guarantee for Companies with Non-Bahraini Partners
We hope you find this digest informative and remain available to discuss how these developments may impact your business.
