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Insight | Legal Alert

Tax Developments in the MENA Region

The tax landscape in the Gulf Cooperation Council (GCC) region is dynamic and continually evolving, reflecting the member states' efforts to diversify their economies and enhance fiscal sustainability. We have summarized the key tax developments which occurred during August 2024.
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Overview

Baker McKenzie has been in the Middle East and North Africa (MENA) region for over 40 years and our UAE offices form an integral part of Baker McKenzie's renowned MENA practice. As with all of our offices, we have deep local roots, offering an integrated global reach to seamlessly assist clients looking to solve complex problems across borders and practice areas.

We have supported our clients on their most sensitive and challenging transactions, helping them to both optimize opportunities and mitigate risk. Our multidisciplinary team of more than 40 lawyers on the ground provides a full-service offering, advising on both onshore, UAE and offshore/free zone matters (including in the DIFC and ADGM), as well as matters of English law.

Our clients include some of the world’s largest sovereign wealth funds, global and regional financial institutions, private equity funds and asset managers, leading conglomerates, family offices and many of the world’s largest companies.

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Offices

Abu Dhabi

Al Sila Tower, Level 8
Abu Dhabi Global Market Square
Al Maryah Island
P.O. Box 51235
Abu Dhabi
United Arab Emirates
Tel: +971 2 696 1200 Fax: +971 2 676 6477

Dubai

Al Fattan Currency House
Tower 2, Level 16
Dubai International Financial Centre
P.O. Box 507176
Dubai
United Arab Emirates
Tel: +971 4 542 1900 Fax: +971 4 542 1902

Building on our Firm's local and global expertise, we offer comprehensive, integrated tax and legal services including:

We are one of few firms authorized to provide formal legal training to all lawyers in the UAE. Our lawyers benefit from working in an environment filled with experienced legal professionals. Our lawyers also receive professional development training from the Dubai Legal Affairs Department and participate in global training programs such as the Associate Transfer Program.

Our UAE offices also offer England & Wales Training Contracts, a two-year training program encompassing at least three areas of English law that provides trainees with the basic knowledge and skills to become qualified E&W lawyers.

Get up-to-date information on the current legal and regulatory matters impacting your business. Search by country, industry and area of legal practice.


Insight | Handbook
Doing Business in the United Arab Emirates 2024
Comprehensive guide to understanding the current investment and legal landscape in the UAE.
Insight | Handbook
Contingent Workforce
Contingent workforce and flexible working continues to be a dominant issue in the current employment landscape.
Insight | Recorded Webinar
The Restructuring Landscape in 2023
In our recent webinar, we explored the principal regulatory and commercial issues impacting some of the key markets in the Middle East and Africa.
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News | Deal Announcement
Baker McKenzie acts for Ooredoo Group on its Strategic Partnership with Iron Mountain
Ooredoo Group's landmark strategic partnership will see Iron Mountain take a minority equity stake in Ooredoo’s carrier-neutral data centre company, MENA Digital Hub.
News | Deal Announcement
Baker McKenzie Advises on the Sale of Radisson Blu Dubai Media City
The Firm advised Goldman Capital Investments on the sale of the Radisson Blu hotel in Dubai Media City to Select Group, a Dubai-based real estate development and investment firm.
News | Deal Announcement
Baker McKenzie Advises Gulf Data Hub on Strategic Partnership with KKR to Expand One of the Largest Independent Data Center Platforms in the Middle East
The transaction marks a defining moment in the growth journey of GDH and the first data center investment for KKR in the Middle East.
News | Deal Announcement
Baker McKenzie Legal Advisor to Aldar in Landmark Acquisition of a Commercial Office Tower in the Dubai International Financial Centre from H&H Development
The tower, located in the Dubai International Financial Centre (DIFC), is planned to be operational in 2028.
News | Deal Announcement
Baker McKenzie Advises Arabian Mills for Food Products Company on its IPO
This marks the third milling company the Firm has advised on an IPO, further showcasing its deep expertise in the sector.
News | Deal Announcement
Baker McKenzie Assists Aldar on its Partnership with IHG as Part of its Hospitality Portfolio Transformation in the UAE
This is part of Aldar’s AED 1.5 billion hospitality portfolio transformation in the UAE.
News | Deal Announcement
Baker McKenzie Advises MHP on the Acquisition of a Majority Stake in KTL Ukraine Group
This strategic move is set to enhance MHP's market presence and operational capabilities in the logistics sector.
News | Firm News
Baker McKenzie Enhances Data, Cyber and Technology Team in the United Arab Emirates with Prominent Partner Hire
Dino's arrival further enhances the Firm's global data, cyber and technology offering and underscores the continued growth of the Firm's capabilities in the Middle East. 
News | Firm News
Baker McKenzie Expands Dispute Resolution Practice in Dubai with the Hire of Sally Kotb
Her return builds on the Firm’s continued growth in the UAE and further expands its contentious capabilities in MENA.
News | Deal Announcement
Baker McKenzie advises Sunset Hospitality Group on its acquisition of a majority interest in Maximal Concepts Holding
The acquisition marks a significant step for SHG in bolstering its portfolio of world-class F&B brands.
News | Deal Announcement
Baker McKenzie advises UltraTech Cement on its successful UAE tender offer
The tender offer represents the first ever partial tender offer to be executed under the UAE Securities and Commodities Authority's rules and regulations, and the third all cash tender offer in ...
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Events | Event
Baker McKenzie Middle East Sanctions and Trade Compliance Briefing
This event will cover tariffs, sanctions, export controls, and other trade and national security measures affecting businesses in the Middle East.
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Diversity & Inclusion

We launched our BakerWomen Middle East initiative in 2015 to support the progression of women in the workplace at all stages of their careers. As part of the initiative, we host internal and client meetings to provide a forum for women to share their experiences and challenges.

We remain committed to the UAE Government’s Emiratisation initiative and provide internships and reverse secondments to UAE nationals to undertake trainings with our firm.

We were named "International Law Firm of the Year" by LexisNexis in their Middle East Women in Law Awards for two consecutive years (2022-2023).

Additional Insight

Get up-to-date information on the current legal and regulatory matters impacting your business in the UAE region.

2 Minute Read
The Ministry of Finance releases public consultation on the introduction of global minimum tax framework
Public consultation on the potential framework that the UAE will introduce to implement Pillar 2.
5 Minute Read
New Emirates Drug Corporation replaces MOHAP as federal regulator of all medical products
Body aims to strengthen the country's position as a global hub for pharma and medical industries.

Key Contacts