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The UAE Federal Tax Authority requires businesses with annual revenues of Dh50 million or more to appoint an Accredited Service Provider by October 30, 2026. Failure to meet the deadline will result in an administrative penalty of Dh5,000 per month of delay. The mandate and associated penalty framework also apply to businesses registered in UAE free zones.
Luckin Coffee Inc. has appointed Philip Yifei Bao, Director of Private Equity China at Abu Dhabi's Mubadala Investment Company, to its board of directors. The appointment expands the Chinese coffee chain's board to ten members and deepens governance ties with the UAE sovereign wealth fund.
The UAE Federal Tax Authority published Decision No. 17 of 2026 setting conditions for recovering input tax on employee expenses. Entities may recover VAT on goods or services provided to employees under contractual obligations or documented policies. The guidance requires formal documentation and approval mechanisms ahead of VAT Executive Regulation amendments taking effect October 1, 2026.
Chinese coffee chain Luckin Coffee is assessing an expansion into Gulf countries following an investment by Abu Dhabi's Mubadala Investment Company. Mubadala became a direct shareholder after partnering with Luckin's controlling shareholder Centurium Capital on a $1 billion deal. Luckin executives highlighted the Gulf region's repeat consumption and rising demand for health-oriented beverages.
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