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The UAE's hospitality sector is a key driver of the nation's non-oil economy, contributing significantly to GDP. Expected to grow from $7.37 billion in 2023 to $9.46 billion by 2028, the sector benefits from government investments in infrastructure, attracting both international and local hotel brands. This growth includes $32 billion in investments to add 48,000 hotel rooms, increasing the total to 200,000 across the UAE.
However, the hospitality industry faces a complex tax environment with federal taxes like VAT (introduced in 2018) and corporate tax (from June 2023), as well as emirate-level levies like municipality tax and tourism fees.
Dhruva Consultants report provides an in-depth analysis of these taxes, focusing on VAT, corporate tax, and transfer pricing. It offers insights into the challenges and opportunities these taxes present, covering VAT treatment, financial planning under corporate tax, and the need for strong transfer pricing documentation. The report serves as a valuable guide for stakeholders in the hospitality sector to ensure compliance and effectively navigate the evolving tax landscape.
Access the Full Report:
For a detailed exploration of these insights, read the Dhruva Consultants full report - The UAE's Hospitality Sector: A Key Economic Driver
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