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Economic overview. UAE has the second-largest economy in the Arab world (after Saudi Arabia), [ 22 ] with a gross domestic product (GDP) of US$414 billion (AED 1.52 trillion) in 2018. [ 23 ] A third of the GDP is from oil revenues. [ 22 ] The economy was expected to grow 4–4.5% in 2013, compared to 2.3–3.5% over the previous five years.
The current standard VAT rate in the country is 5%. [2][3] In January 2022, the UAE Ministry of Finance announced the implementation of a federal corporate tax starting June 2023. [4] The standard rate of corporate tax is 9%, some exempt businesses and those with net annual profits under AED375,000 (US$102,100) qualify for a rate of 0%, and ...
Off-price. Off-price is a trading format based on discount pricing. Off-price retailers are independent of manufacturers and buy large volumes of branded goods directly from them. The off-price retail model relies on the purchase of over-produced, or excess, branded goods at a lower price, thus being able to sell to consumers at a discount ...
Article 1 and Article 66 of the UAE's Penal Code required hudud crimes to be punished with the death penalty, even though no executions for apostasy have ever taken place. [ 20 ] [ 21 ] By virtue of Federal Decree Law No. (15) of 2020, Articles 1 and 66 of UAE's Penal Code no longer incorporate hudud crimes.
EDGE Group (Arabic: مجموعة إيدج) is an Emirati advanced technology and defence conglomerate comprising 25 companies involved in military and civilian products, and technologies. [5][6][7] Edge is reported to be among the top 3 manufacturers and suppliers of precision guided munitions. [8]
The COVID-19 pandemic in the United Arab Emirates is part of the worldwide pandemic of coronavirus disease 2019 (COVID-19) caused by severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2). The first confirmed case in the United Arab Emirates was announced on 29 January 2020. It was the first country in the Middle East to report a ...
The discount, or charge, is the difference between the original amount owed in the present and the amount that has to be paid in the future to settle the debt. [1] The discount is usually associated with a discount rate, which is also called the discount yield. [1][2][4] The discount yield is the proportional share of the initial amount owed ...
Yemen. In September 2010 the penetration rate was estimated at 38.4% over a population estimate of 24.1 million. [169] Because of unreliable coverage of mobile services in certain areas, particularly in rural areas, it is common for Yemenis to utilize a phone with Dual SIM capability.
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