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The UAE Government Is Considering A Major Tax Incentive Program

The UAE Ministry of Finance (MoF) has initiated a digital public consultation to explore the potential implementation of a Research and Development (R&D) Tax Incentive program within the framework of the UAE Corporate Tax Law.

This consultation, open from April 19 to May 14, 2024, seeks valuable input from relevant stakeholders, including businesses operating in the UAE, tax advisors, service providers, academic institutions, and investors. The MoF aims to gain insights into the scope of R&D activities conducted within the UAE, determine the appropriate coverage of the potential R&D Tax Incentive, and establish efficient implementation and administration processes.

Recognizing the novelty of an R&D Tax Incentive in the UAE, the MoF has included a Guidance Paper as part of the consultation. This paper aligns with the definition of R&D outlined in the Organisation for Economic Co-operation and Development’s (OECD) Frascati Manual, providing stakeholders with a clear understanding of qualifying R&D activities.

The MoF encourages all participants to submit clear and concise feedback. They particularly welcome responses that incorporate supporting examples, data, or any other relevant information to strengthen their viewpoints.

The deadline for submissions is May 14, 2024. All responses will be treated confidentially and will not be publicly disclosed.

 

Publish 19 Apr 2024

Source: https://www.arabianbusiness.com/politics-economics/uae-considers-major-tax-incentive

Connect with our Business Setup Experts to know more: hidubai@smartzonesuae.com
+971 529604444 / +971 43614555

RAKEZ COP28 Business Set-Up Offer

Businesses are offered special set-up rates and sustainable start-up rates by a UAE free zone ahead of COP28.

Ras Al Khaimah Economic Zone (RAKEZ) introduces a groundbreaking COP28 business set-up offer, extending a two-year license with no fee for office set-ups, providing entrepreneurs a cost-effective solution for establishing eco-friendly operations in the UAE.

This strategic move aligns seamlessly with COP28 goals, demonstrating RAKEZ’s dedication to sustainable practices by offering tailor-made packages, assisting businesses in contributing to a greener future.

RAKEZ business set-up deal in UAE

RAKEZ pioneers such a forward-thinking initiative as the first economic zone in the UAE.

For businesses needing more physical space, RAKEZ offers a customizable bespoke package for warehouse setups, allowing efficient and sustainable practices.

RAKEZ Group CEO Ramy Jallad stated, “We started early on sustainability and energy-saving programs at RAKEZ, diligently working towards an eco-friendly business environment.

Our commitment is not just in words but in actions, offering substantial support and incentives to businesses that align with our vision. At RAKEZ, we are firmly committed to fostering growth, innovation, sustainability, and exceptional customer service.

As we approach COP28, it becomes increasingly crucial to unite in addressing climate change and shaping a more sustainable future.

Our new COP28 business set-up offer is a clear demonstration of our unwavering dedication to these ideals.

We are proud to be at the forefront of this movement, actively supporting businesses that share our vision and providing them with the necessary resources to make a positive impact”.

The RAKEZ COP28 offer is not just about licenses and workspaces; it is about empowering businesses to thrive in an environmentally responsible manner.

The package includes a range of benefits such as exclusive services from RAK Municipality’s Energy Efficiency and Renewables and RAK Ports, access to value-added services from RAKEZ, free zone and non-free zone set-up options, and exclusive discounts, among many others.

 

Publish Date: 27 Nov 2023

Source:

https://www.arabianbusiness.com/politics-economics/uae-free-zone-announces-no-fee-business-set-up-service-ahead-of-cop28

Connect with our Business Incubators to know more: hidubai@smartzonesuae.com
+971 529604444 / +971 43614555

Esaad Card Holders Gets 30% discount on Business Setup services at Smart Zones® UAE

We’re excited to announce that Smart Zones® UAE has established a partnership with the Dubai Police, giving exclusive offer get 30% discount on Business Setup services via the Esaad Privilege Card!

Esaad cardholders and their associates can now benefit from a generous 30% discount on our Business Setup services in Dubai, UAE. To access these special offers, just present your Esaad Card along with your Emirates ID.

Please note that specific terms and conditions are applicable.

 

  • Offer available until 19 Sep 2024

Connect with our Business Incubators to know more: hidubai@smartzonesuae.com

+971 527797111 / +971 529604444

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