The UAE is set to exit the FATF’s “grey list” after addressing deficiencies in its AML, CTF, and anti-proliferation financing frameworks, promising smoother international transactions for MNCs.

The Federal Tax Authority’s Decision No. 3 of 2024 introduces specific registration timelines for taxable persons under UAE Corporate Tax, effective from 01.03.2024, with penalties for non-compliance.

The introduction of transfer pricing regulations in the UAE highlights the need for companies to ensure transactions between entities are conducted at arm’s length, aiming for transparency and compliance in international business operations.

The Dubai International Financial Centre (DIFC) has reported a 15% increase in job creation and a 26% year-on-year increase in active companies, with revenues and operating profits rising by 23% and 27%, respectively.

The UAE job market in 2024 is set to experience a 4.5% increase in average salaries, with a significant demand for skills in management, leadership, and technology, highlighting the need for professionals to adapt to evolving market dynamics.