FTA debuts website to help businesses navigate UAE's new tax system
The Federal Tax Authority, FTA, has launched its website, providing businesses and consumers with a wealth of information on the upcoming introduction of excise tax and VAT in the UAE. The FTA website includes information about the Authority, as well as the introduction of the different types of indirect taxes in the country, the legislations regulating them, and the objectives and benefits to the UAE economy.
Middle East Startup Investment Nears USD 1 Billion in 2017
In line with the UAE's Year of Giving, and Middle East startup support approaching USD 1 billion in 2017, one of the world's leading entrepreneur platforms has selected 20 Middle East innovators to drive global best practices. At the first-ever ChangemakerXchange Summit for entrepreneurs from across the Middle East, sponsored by social entrepreneurship platform Ashoka and digital transformation enabler SAP, 20 entrepreneurs were selected to receive access to fundraising, resources, and mentorship at a regional and global level. At the event, 18 regional entrepreneurs attended, while two additional Syrian entrepreneurs were also selected as Changemakers but could not attend.
FDI inflows, outflows at AED 267 billion in 3 years
UAE's foreign direct investment inflows and outflows totaled AED 267 billion over the past three years, according to Ministry of Economy statistics, reflecting the decent growth rates recorded across all economic sectors despite the global economic slowdown.
Dnata commits to a greener future with its new recycling programme
Dnata has ramped up its recycling programme for its fleet of 12,000 units of ground services equipment, GSE, at the Dubai International Airport, DXB, and Dubai World Central, DWC. Since the launch of the recycling programme this year, over 80 units have been renewed at the GSE maintenance base, reducing waste generated from these equipment by 110 tonnes while passing all safety and quality checks. The projection for 2017 is an estimated 140 pieces of GSE being recycled, saving the company approximately over AED 13 million, and reducing waste by 250 tonnes.