The Gulf Co-operation Council (GCC) nations – the UAE, Oman, Qatar, Saudi Arabia, Bahrain and Kuwait – have always enjoyed synergistic partnerships and friendships that have empowered the Gulf region as whole. Most recently, the consortium announced the Grand Tours Visa, a unified visa that will allow foreign applicants multiple entry access to all countries for up to 30 days.
This is similar to the Schengen visa in Europe, which allows entry to various countries so visitors from across the globe have the convenience of applying and paying for a single visa and planning travels that span across borders.
The Gulf Grand Tours visa will be available by the end of the year. It is the culmination of many decades of efforts of all GCC member nations to diversify their economies, with particular focus to growing their tourism sectors.
Countries and cities in the GCC have grown to become top tier destinations, not only for leisure travel but also business pursuits. The region has established itself as a gateway between the East and West, hosting conferences and industry events that attract leaders from across the globe. This growth has been the direct result of leaders’ commitment to diversify economic interests outside of oil and create sustainable sources of revenue for a secure future.
Increasingly, over the past few years, especially given GCC nations’ efficient responses to the Covid-19 pandemic, there has been heightened interest from foreign investors. The GCC has found itself now, more than ever, in the spotlight from various standpoints. But that should not be taken for granted; efforts in maintaining that standing and elevating it further should continue.
We cannot doubt that the region has grown steadily, owing to wise, consistent leadership. The contributions of citizens and residents, who are more educated and engaged than ever before, have been considerable as well. The regional tourism landscape has evolved quickly, and a unified visa will undoubtedly open new avenues for growth and cross-country collaboration.
Operators within the tourism industries of member countries now have the chance to work together to plan and package deals for visitors to encourage a broader, more enriching experience. There are also opportunities to innovate within the sector and create specialised tours targeting various demographics of travellers so they can visit a number of destinations and get a taste of the diversity and unity that are hallmarks of the Gulf region.
The unified visa comes during a time when we are rebuilding our economies following a challenging few years, and is a much-needed catalyst for various established businesses as well as aspiring entrepreneurs to think out of the box and see how they can create new opportunities, grow existing revenue streams, find new ones and rethink their networks to collaborate more efficiently.
The Gulf Grand Tours visa represents the power of friendly relations and mutually beneficial economic ties with allies – these are important lessons from history that have enhanced security and stability within the region, and serve as a benchmark for nations across the globe.
We must remain optimistic about the benefits the region will enjoy as a result of the unified visa, and there truly is not a better time than now for public and private sector organisations across the region to start planning. Synergy is vital, not just between the member states, but within the public and private sector entities operating in each member state.
It is also important, I believe, that organisations engage with residents as well as travellers – the target audience – and ask them to share their suggestions for how they want the tourist offerings in the Gulf region to evolve in this exciting new phase. To continuously enhance the tourist experience, we must consistently seek input and hear their needs and thoughts on gaps that need to be filled.
We must also see a renewed commitment from educational institutions to inform students about the growing tourist sectors, potentially engaging with businesses so they can grow interest by offering workshops, internships and apprenticeships to our bright young minds. The GCC’s youth is the future and we must empower them so they can meet their potential and contribute towards an economically prosperous and more secure future.
The Gulf Grand Tours will have great potential to increase tourism. We must continue to keep our eye on the prize and never lose sight of the hard work, allyship and collaboration that brought us to this point in the first place. Holding on to the core elements that have contributed towards growth thus far, and building on them for the future will undoubtedly bring forth the economic progress and stability the member nations want to continue to see in the region.
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
Emergency
Director: Kangana Ranaut
Stars: Kangana Ranaut, Anupam Kher, Shreyas Talpade, Milind Soman, Mahima Chaudhry
Rating: 2/5
The specs
The specs: 2019 Audi Q8
Price, base: Dh315,000
Engine: 3.0-litre turbocharged V6
Gearbox: Eight-speed automatic
Power: 340hp @ 3,500rpm
Torque: 500Nm @ 2,250rpm
Fuel economy, combined: 6.7L / 100km
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