The Dubai Supreme Council of Energy (DSCE) launched the Circular Economy Committee, which will bring public and private entities together and develop actionable initiatives to boost current applications and introduce best international practices.
A circular economy is an economic system that focuses on reducing the extraction of natural resources, minimising waste and regenerate natural systems. Raw materials, components and products keep their value for as long as possible, while renewable energy sources are used in a circular economy.
Last week, the UAE unveiled a strategic net-zero initiative that aims to reduce carbon emissions by 2050. The country will invest Dh600 billion ($163bn) in clean and renewable energy sources in the next three decades.
“The UAE attaches great importance to achieving sustainable and effective use of natural resources by transitioning to a green economy and increasing the share of clean and renewable energy sources,” Saeed Mohammed Al Tayer, vice chairman of the DSCE, said via state news agency Wam.
“The UAE Circular Economy Policy identifies the country’s priorities in terms of a circular economy. Priorities include infrastructure, sustainable transportation, manufacturing, food production and consumption,”
Last year, Dubai prioritised the circular economy in response to the Covid-19 pandemic, which upended the global economy. The emirate is looking to optimise available resources and minimise waste, Sami Al Qamzi, director general Dubai Economy, said earlier.
The committee aims to encourage investment in the circular economy and propose viable suggestions that support the upscaling of current applications and best international practices, Mr Al Tayer said. This achieves economic growth, while protecting the environment and ensuring the sustainability of natural resources.
“We aim to develop and launch innovative tools and initiatives in collaboration with our strategic partners to promote the adoption of the circular economy model across different sectors and ensure its application according to methodologies that link all effective players,” Mr Al Tayer said.
“We also strive to support start-ups and develop the capabilities of entrepreneurs in this vital sector in addition to encouraging the utilisation of modern technologies capabilities by enhancing the efficiency of natural resources and promoting sustainable practices to reuse resources, reduce waste, limit carbon emissions, and build a better future for generations to come.”
The UAE Circular Economy Policy identifies the country’s priorities in terms of a circular economy. Priorities include infrastructure, sustainable transportation, manufacturing, food production and consumption
Saeed Mohammed Al Tayer,
vice chairman of the Dubai Supreme Council of Energy
Ahmad Buti Al Muhairbi, secretary general of the DSCE and chairman of the Energy Demand Side Management Executive Committee, chaired the Circular Economy Committee's first meeting.
The committee's members include representatives from the Dubai Electricity and Water Authority, Dubai Municipality, Dubai Economy, Dubai Science Park, Emaar Properties and Diamond Developers.
“We are pleased with the response to suggestions discussed in the first meeting of the Circular Economy Committee. We already see several excellent examples of circularity that can be scaled up across Dubai,” Mr Al Muhairbi said.
“The committee discussed the report on the State of Circular Economy that was reviewed and aligned with the UAE Circular Economy Policy. The committee discussed some examples of global best practices, with next steps in developing initiatives and tools to support further the circular economy across different sectors in Dubai.”
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Favourite Quote: Prophet Mohammad's quotes There is reward for kindness to every living thing and A good man treats women with honour
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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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UK’s AI plan
- AI ambassadors such as MIT economist Simon Johnson, Monzo cofounder Tom Blomfield and Google DeepMind’s Raia Hadsell
- £10bn AI growth zone in South Wales to create 5,000 jobs
- £100m of government support for startups building AI hardware products
- £250m to train new AI models
