Policy & Legal Updates

UAE Clarifies 2026 Corporate Tax Rules for Mainland and Free Zone Firms

Mainland UAE companies are subject to a 0% tax rate on taxable profits up to AED 375,000 and 9% thereafter, while Qualifying Free Zone Persons face different rules. Free zone entities receive a 0% rate on qualifying income, but non-qualifying revenue is taxed at 9% without the AED 375,000 threshold. Companies with financial years ending December 31, 2025, must submit returns and pay tax by September 30, 2026.

Industry News

Asia’s Crude Oil Imports Rebound Driven by Arabian Gulf Shipments

Asian crude oil imports are scheduled to reach 23.96 million barrels per day in September 2026, supported by shipments from Arabian Gulf producers. China increased its imports to 8.93 million barrels per day in August, though total Asian volumes remain 13 percent below pre-tension baselines.

Industry News

Asia Crude Oil Imports Rebound While China Raises Purchases From Gulf Producers

Asian markets are scheduled to import 23.96 million barrels of crude oil per day in September 2026, driven by Arabian Gulf supplies. China's foreign crude purchases reached 8.93 million barrels per day in August, a 6.2 percent increase month-on-month. Despite recovering maritime flows, total Asian crude imports remain 13 percent below pre-crisis baseline levels.

Policy & Legal Updates

UAE Clarifies Pillar Two Tax Reporting Obligations for Large Multinational Enterprises

The UAE Ministry of Finance has issued ministerial decisions detailing reporting and compliance procedures under the OECD/G20 Pillar Two minimum 15 percent tax framework. The rules apply to multinational groups with consolidated revenue of at least EUR 750 million in at least two of the four preceding fiscal years. Guidelines define GloBE Information Return submissions, Federal Tax Authority notifications, and the appointment of local filing entities.