Banking, fintech, funds, capital markets and cross-border investment
The UAE Federal Tax Authority has urged businesses to meet electronic invoicing deadlines to avoid an administrative fine of AED 5,000 per month. The authority stated that flexible mechanisms have been adopted to ease the compliance process. FTA continues to offer in-person and online workshops regarding system integration and EmaraTax activation.
RAKBANK Group CEO Raheel Ahmed highlighted Ras Al Khaimah as a commercial gateway for Chinese firms following a high-level UAE delegation visit to China. The bank operates a dedicated Chinese department serving around 2,500 Chinese clients, offering fast-tracked account opening and integration with Alipay and WeChat.
GCC Secretary General Jasem Mohamed Albudaiwi met with China's Vice Minister of Commerce Li Chenggang in Doha to review ongoing Free Trade Agreement negotiations. Both sides reviewed technical working group progress and emphasized addressing trade obstacles to accelerate signing. The pact is intended to boost trade and investment flows between China and GCC member states, including the UAE.
The UAE Federal Tax Authority announced that businesses with annual revenues of Dh50 million or more must contract an accredited electronic invoicing service provider by October 30, 2026. Non-compliant firms face recurring monthly administrative penalties of Dh5,000. The measure prepares companies for the mandatory nationwide electronic invoicing rollout scheduled for January 1, 2027.
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