The top five routes in July from the capital were to London, Doha, Manila, Bangkok and Jeddah, representing 15 per cent of all traffic. Delores Johnson / The National
The top five routes in July from the capital were to London, Doha, Manila, Bangkok and Jeddah, representing 15 per cent of all traffic. Delores Johnson / The National
The top five routes in July from the capital were to London, Doha, Manila, Bangkok and Jeddah, representing 15 per cent of all traffic. Delores Johnson / The National
The top five routes in July from the capital were to London, Doha, Manila, Bangkok and Jeddah, representing 15 per cent of all traffic. Delores Johnson / The National

Business

Abu Dhabi airport bucks summer slowdown trend with 1.7 million passengers in July

Abu Dhabi Airport saw no summer slowdown as passenger arrivals hit 1.7 million in July, the airport’s latest data showed.

Shereen El Gazzar

September 02, 2014

  • English
  • Arabic

Abu Dhabi International Airport was one place of business in the capital that did not suffer the usual summer slowdown.

Passenger arrivals hit the 1.7 million mark in July, the airport's latest data showed. That figure represented a 21.7 per cent increase in traffic over the same month last year, the airport said.

"Looking at July more specifically, the figures were boosted by the Eid Al Fitr holiday as well as summer holiday season," said Ahmad Al Haddabi, chief operations officer at Abu Dhabi Airports.

"July also saw Etihad Airways commence their new services to Yerevan in Armenia and to Perth in Australia," he said.

This week, Abu Dhabi Tourism and Culture Authority said that hotel guest arrivals at the emirate were up 26 per cent in July, with guest nights rising 20 per cent year-on-year and revenues increasing 14 per cent. About 215,286 guests checked into Abu Dhabi’s hotels and hotel apartments in July. Occupancy was at 55 per cent and hotel revenues reached Dh317 million for July.

Abu Dhabi International Airport said that the top five routes in July from the capital were to London, Doha, Manila, Bangkok and Jeddah, representing 15 per cent of all traffic.

Meanwhile, cargo activity was up 5.7 per cent year-on-year in July to 67,456 tonnes.

The International Air Transport Association said that Middle Eastern freight markets had expanded by 9.4 per cent in July.

“This strong performance came despite the impact of Ramadan. Airlines in the region are capturing growth opportunities by opening routes to fast-developing economies such as Mexico and Uganda. Capacity rose 7.8 per cent,” said the report.

selgazzar@thenational.ae

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Ten tax points to be aware of in 2026

1. Domestic VAT refund amendments: request your refund within five years

If a business does not apply for the refund on time, they lose their credit.

2. E-invoicing in the UAE

Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption. 

3. More tax audits

Tax authorities are increasingly using data already available across multiple filings to identify audit risks. 

4. More beneficial VAT and excise tax penalty regime

Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.

5. Greater emphasis on statutory audit

There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.

6. Further transfer pricing enforcement

Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes. 

7. Limited time periods for audits

Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion. 

8. Pillar 2 implementation 

Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.

9. Reduced compliance obligations for imported goods and services

Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations. 

10. Substance and CbC reporting focus

Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity. 

Contributed by Thomas Vanhee and Hend Rashwan, Aurifer

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