• Want a job at Expo 2020? Here's a guide to 10 roles in the country pavilions, with estimated salaries. All figures are from recruiters and most roles listed are working for governments and countries, not with the Dubai Expo authority itself. Acrobats and musicians are usually freelance, and charge by event. Leslie Pableo for The National
    Want a job at Expo 2020? Here's a guide to 10 roles in the country pavilions, with estimated salaries. All figures are from recruiters and most roles listed are working for governments and countries, not with the Dubai Expo authority itself. Acrobats and musicians are usually freelance, and charge by event. Leslie Pableo for The National
  • 1. Tour guides - Dh8,000 - Dh12,000. Expo 2020 Dubai jobs & salary guide (salaries are estimated and per month). Courtesy: Expo 2020
    1. Tour guides - Dh8,000 - Dh12,000. Expo 2020 Dubai jobs & salary guide (salaries are estimated and per month). Courtesy: Expo 2020
  • 2. Pavilion operation manager - Dh15,000 - Dh25,000 (depends on the size of the pavilion). Expo 2020 Dubai jobs & salary guide (salaries are estimated and per month). Chris Whiteoak / The National
    2. Pavilion operation manager - Dh15,000 - Dh25,000 (depends on the size of the pavilion). Expo 2020 Dubai jobs & salary guide (salaries are estimated and per month). Chris Whiteoak / The National
  • 3. Receptionist and lounge staff - Dh6,000 plus accommodation. Expo 2020 Dubai jobs & salary guide (salaries are estimated and per month). Pawan Singh / The National
    3. Receptionist and lounge staff - Dh6,000 plus accommodation. Expo 2020 Dubai jobs & salary guide (salaries are estimated and per month). Pawan Singh / The National
  • 4. Media officer - Dh10,000 - Dh15,000. Expo 2020 Dubai jobs & salary guide (salaries are estimated and per month). Getty Images
    4. Media officer - Dh10,000 - Dh15,000. Expo 2020 Dubai jobs & salary guide (salaries are estimated and per month). Getty Images
  • 5. Protocol and events officer - Dh15,000 - Dh20,000. Expo 2020 Dubai jobs & salary guide (salaries are estimated and per month). Pawan Singh / The National
    5. Protocol and events officer - Dh15,000 - Dh20,000. Expo 2020 Dubai jobs & salary guide (salaries are estimated and per month). Pawan Singh / The National
  • 6. Housekeeping manager - Dh15,000 - Dh30,000 - depends on the size of the pavilion - some have 300 cleaners (salaries are estimated and per month). Victor Besa/The National
    6. Housekeeping manager - Dh15,000 - Dh30,000 - depends on the size of the pavilion - some have 300 cleaners (salaries are estimated and per month). Victor Besa/The National
  • 7. Hospitality - Dh2,000 plus accommodation (salaries are estimated and per month). Silvia Razgova / The National
    7. Hospitality - Dh2,000 plus accommodation (salaries are estimated and per month). Silvia Razgova / The National
  • 8. Events chef - Dh18,000 - Dh25,000 (salaries are estimated and per month). Courtesy: Luxembourg Expo 2020 Dubai
    8. Events chef - Dh18,000 - Dh25,000 (salaries are estimated and per month). Courtesy: Luxembourg Expo 2020 Dubai
  • 9. Events manager - Dh15,000 - Dh25,000 (salaries are estimated and per month). Alamy Stock Photo
    9. Events manager - Dh15,000 - Dh25,000 (salaries are estimated and per month). Alamy Stock Photo
  • 10. Acrobats, stage performers and musicians - freelance and paid per event, depending on skill level and success. Leslie Pableo for The National
    10. Acrobats, stage performers and musicians - freelance and paid per event, depending on skill level and success. Leslie Pableo for The National

UAE jobs and salaries: Expo 2020 Dubai pavilions begin mass recruitment in boost for employment market


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Dozens of Expo 2020 Dubai pavilions have begun to hire thousands of staff in anticipation of the global event's launch in October.

The boom in recruitment is for guest services, tour guides, chefs, hosts and site managers, as governments and embassies look to hire front-facing personnel to host their pavilions.

There are 192 country pavilions on the 438-hectare site. Some of the larger pavilions require up to 200 staff each.

Millions of visitors are expected to visit Expo 2020 between October 2021 and March 2022.

We are very optimistic that with vaccination and the increased awareness of how to deal with Covid, that people will come to this event

Before the pandemic, the organisers predicted 25 million visitors – a majority of them tourists.

Ahmed Al Khatib, chief development and delivery officer at Expo 2020 Dubai, said despite the Covid-enforced travel disruption, he was confident of huge visitor numbers – and that thousands of smiling staff were needed to welcome them.

"We are very optimistic that, with vaccination and increased awareness of the entire world of how to deal with Covid, that people will continue to come to this event," he told The National in an interview this week.

"It's a platform for so many opportunities that the world can benefit from."

David Mackenzie, founder of Mackenzie Jones Middle East, is among the employers now filling roles.

He said: "Everyone is gearing up now for Expo".

Live performers including musicians and acrobats are also being sought. Chris Whiteoak / The National
Live performers including musicians and acrobats are also being sought. Chris Whiteoak / The National

He said Global Affairs Canada, which manages the Canadian government's diplomatic and consular relations, is the latest to send out a tender for a recruitment agent to find them 60 staff to work in its pavilion.

The British embassy has already awarded its contract to a consortium led by ServeU to operate and staff its pavilion.

Recruiters are looking for a range of roles, from an overall pavilion manager to visitor experience guides and back office staff – including cleaning and security.

An advert was posted on LinkedIn two weeks ago for an "enthusiastic operations officer to support ground logistics for the USA Pavilion".

We are bringing lots of technicians from different parts of the world – specialists like laser technicians who create experiences

The full-time position "will require the co-ordination of deliveries, vehicles, logistics, accommodation services, accreditation, visas, etc. so similar experience will be highly advantageous".

Big Fish Recruitment has several job adverts on LinkedIn for a "European pavilion", including one for visitor guides and one for receptionist and lounge staff.

Director Gary Segesdy said Big Fish are offering HR consultancy services to embassies looking to recruit staff for their pavilions in the UAE and abroad.

“Depending on the footprint, pavilions need anything from 10 to 200+ staff, if you include all the blue-collar workers for services such as housekeeping as well,” he said.

“Preparations started well over a year ago, and obviously because of the pandemic everything has been delayed," said Mr Segesdy.

“As confidence started growing, and it looked like the event was actually going to happen, countries started to look for manpower and staffing solutions.

Recruitment firm owner Gary Segesdy said Expo 2020 is a 'shot in the arm' for the UAE job market. Antonie Robertson / The National
Recruitment firm owner Gary Segesdy said Expo 2020 is a 'shot in the arm' for the UAE job market. Antonie Robertson / The National

“We are expecting this demand to increase as we get closer to the start date, and it’s going to provide a lot of people with jobs.

“It’s going to be a shot in the arm for the employment market, for sure. It can only be good thing,” he said.

The salaries on offer vary depending on the host pavilion and their local employment laws, and also the skillset offered by the prospective employee.

Languages are a key requirement for this global event, and guides or receptionists who can speak English, Hindi, Arabic and Tagalog are in particular demand.

Pavilions are not looking to hire only host nation staff, as the ability to communicate with visitors is a priority.

Recruiters are keen to hire a mix of staff as pavilion guides, from graduates to mums looking to return to the workforce on a temporary basis.

  • A rendering of the UK pavilion for Expo 2020 Dubai, designed by Es Devlin. Courtesy Es Devlin
    A rendering of the UK pavilion for Expo 2020 Dubai, designed by Es Devlin. Courtesy Es Devlin
  • France are set to wow visitors with their colourful pavilion at Expo 2020 Dubai.
    France are set to wow visitors with their colourful pavilion at Expo 2020 Dubai.
  • The Swiss pavilion at Expo 2020 Dubai. Courtesy: Swiss Pavilion Expo 2020 Dubai
    The Swiss pavilion at Expo 2020 Dubai. Courtesy: Swiss Pavilion Expo 2020 Dubai
  • France Pavilion Expo 2020 Dubai
    France Pavilion Expo 2020 Dubai
  • Renderings of the India pavilion at Expo 2020 Dubai. Courtesy: Consulate of India, Dubai
    Renderings of the India pavilion at Expo 2020 Dubai. Courtesy: Consulate of India, Dubai
  • With the UAE being home to millions of Indians, the country's pavilion is set to be a huge visitor attraction at Expo 2020 Dubai.
    With the UAE being home to millions of Indians, the country's pavilion is set to be a huge visitor attraction at Expo 2020 Dubai.
  • The construction of the Pakistan pavilion at the Dubai Expo 2020 site has been completed. Courtesy: General Consulate of Pakistan in Dubai
    The construction of the Pakistan pavilion at the Dubai Expo 2020 site has been completed. Courtesy: General Consulate of Pakistan in Dubai
  • Rendering of Italian pavilion at Expo 2020. Courtesy: Italy Pavilion at Expo 2020 Dubai
    Rendering of Italian pavilion at Expo 2020. Courtesy: Italy Pavilion at Expo 2020 Dubai
  • Rendering of Italian pavilion at Expo 2020. Courtesy: Italy Pavilion at Expo 2020 Dubai
    Rendering of Italian pavilion at Expo 2020. Courtesy: Italy Pavilion at Expo 2020 Dubai
  • UK pavilion outer side view. Expo 2020. Courtesy UK Pavilion Expo 2020
    UK pavilion outer side view. Expo 2020. Courtesy UK Pavilion Expo 2020
  • The Saudi Pavilion at Expo 2020 will be 13,069 square metres - the second largest pavilion at next year's world fair. Courtesy Expo 2020 Dubai
    The Saudi Pavilion at Expo 2020 will be 13,069 square metres - the second largest pavilion at next year's world fair. Courtesy Expo 2020 Dubai
  • The Luxembourg Pavilion will bring in culinary students to cater to visitors during the months-long event. Courtesy Luxembourg Pavilion Expo 2020 Dubai
    The Luxembourg Pavilion will bring in culinary students to cater to visitors during the months-long event. Courtesy Luxembourg Pavilion Expo 2020 Dubai
  • Luxembourg pavilion. Courtesy: Luxembourg Pavilion Expo 2020 Dubai
    Luxembourg pavilion. Courtesy: Luxembourg Pavilion Expo 2020 Dubai
  • Renderings of the Brazilian pavilion at Expo 2020 in Dubai, which is set to offer an immersive experience for visitors. Courtesy Brazil Pavilion Expo 2020 Dubai
    Renderings of the Brazilian pavilion at Expo 2020 in Dubai, which is set to offer an immersive experience for visitors. Courtesy Brazil Pavilion Expo 2020 Dubai
  • Renderings of the Brazilian pavilion at Expo 2020 in Dubai. Courtesy: Brazil Pavilion Expo 2020 Dubai
    Renderings of the Brazilian pavilion at Expo 2020 in Dubai. Courtesy: Brazil Pavilion Expo 2020 Dubai
  • The German Pavilion CAMPUS GERMANY: Side view. Courtesy: German Pavilion EXPO 2020 Dubai
    The German Pavilion CAMPUS GERMANY: Side view. Courtesy: German Pavilion EXPO 2020 Dubai
  • The German Pavilion CAMPUS GERMANY at night: Façade. Courtesy: German Pavilion EXPO 2020 Dubai
    The German Pavilion CAMPUS GERMANY at night: Façade. Courtesy: German Pavilion EXPO 2020 Dubai
  • Kuwait Pavilion for Expo 2020 Dubai. Courtesy Expo 2020 Dubai
    Kuwait Pavilion for Expo 2020 Dubai. Courtesy Expo 2020 Dubai
  • Kuwait pavilion for expo 2020
    Kuwait pavilion for expo 2020
  • Ireland's pavilion for Expo 2020 Dubai is inspired by the megalithic Newgrange tomb. Courtesy Embassy of Ireland in the UAE
    Ireland's pavilion for Expo 2020 Dubai is inspired by the megalithic Newgrange tomb. Courtesy Embassy of Ireland in the UAE
  • The UAE pavilion with Al Wasl Plaza in the background seen from above at the Dubai Expo 2020 site. Courtesy: Dubai Expo 2020
    The UAE pavilion with Al Wasl Plaza in the background seen from above at the Dubai Expo 2020 site. Courtesy: Dubai Expo 2020
  • Dubai, United Arab Emirates - Reporter: Ramola Talwar. News. Visitors in the Hall of Consumption. ExpoÕs Sustainability Pavilion opens to the public. Dubai. Thursday, January 21st, 2021. Chris Whiteoak / The National
    Dubai, United Arab Emirates - Reporter: Ramola Talwar. News. Visitors in the Hall of Consumption. ExpoÕs Sustainability Pavilion opens to the public. Dubai. Thursday, January 21st, 2021. Chris Whiteoak / The National
  • Expo's Sustainability Pavilion has opened to the public in Dubai. Chris Whiteoak / The National
    Expo's Sustainability Pavilion has opened to the public in Dubai. Chris Whiteoak / The National
  • DUBAI, UNITED ARAB EMIRATES , January 16 – 2021 :- Inside view of the Dubai Expo 2020 Sustainability Pavilion during the media tour in Dubai. (Pawan Singh / The National) For News/Online/Instagram/Big Picture. Story by Sarwat
    DUBAI, UNITED ARAB EMIRATES , January 16 – 2021 :- Inside view of the Dubai Expo 2020 Sustainability Pavilion during the media tour in Dubai. (Pawan Singh / The National) For News/Online/Instagram/Big Picture. Story by Sarwat
  • Philippines 2020 Expo Pavilion. Courtesy: Philippines Expo 2020
    Philippines 2020 Expo Pavilion. Courtesy: Philippines Expo 2020
  • The Philippines' pavilion at Expo 2020 wil celebrate sustainability and encourage people across the globe to embrace nature. Courtesy: Philippines Expo 2020
    The Philippines' pavilion at Expo 2020 wil celebrate sustainability and encourage people across the globe to embrace nature. Courtesy: Philippines Expo 2020
  • American participation in the world fair was in jeopardy last year after a private consortium failed to attract sufficient funds. USA Pavilion at Expo 2020
    American participation in the world fair was in jeopardy last year after a private consortium failed to attract sufficient funds. USA Pavilion at Expo 2020
  • The theme of the US pavilion at Expo 2020 Dubai is life, liberty and the pursuit of the future. Courtesy: USA Pavilion at Expo 2020
    The theme of the US pavilion at Expo 2020 Dubai is life, liberty and the pursuit of the future. Courtesy: USA Pavilion at Expo 2020
  • Render of the exterior of Monaco pavilion that will be wrapped with solar panels at the Expo 2020 Dubai site. Courtesy: Monaco Expo 2020
    Render of the exterior of Monaco pavilion that will be wrapped with solar panels at the Expo 2020 Dubai site. Courtesy: Monaco Expo 2020
  • Monaco Pavilion Expo 2020 rendering
    Monaco Pavilion Expo 2020 rendering
  • Finland Expo pavilion. Story by Ramola.
    Finland Expo pavilion. Story by Ramola.
  • Finland Expo pavilion. Story by Ramola.
    Finland Expo pavilion. Story by Ramola.
  • The wooden poles of the Malaysia Pavilion will be lit up at night to represent fireflies in mangrove trees. Courtesy: Malaysia Pavilion Expo 2020 Dubai
    The wooden poles of the Malaysia Pavilion will be lit up at night to represent fireflies in mangrove trees. Courtesy: Malaysia Pavilion Expo 2020 Dubai
  • Exhibition halls will be located in suspended sections, while a basement four metres below the surface will contain an auditorium, business centre, cafe and sunken gardens. Courtesy: Malaysia Pavilion Expo 2020 Dubai
    Exhibition halls will be located in suspended sections, while a basement four metres below the surface will contain an auditorium, business centre, cafe and sunken gardens. Courtesy: Malaysia Pavilion Expo 2020 Dubai

New Dubai South communities see rental boom

The impact of the Expo will not only be felt locally, as recruitment agents said they are looking further afield for talent.

Tasc Outsourcing, a staffing agency headquartered in Dubai, has just won a contract to recruit about 190 people for two pavilions, said their senior vice president, Abbas Ali.

“We are bringing lots of technicians from different parts of the world – real specialists like laser technicians who create experiences," he said.

“Contracts are getting awarded as we speak. There’ll be lots of interviews and assessments in June and July."

Even international hires have an impact on the market here, as incoming expats need visa services, compliance help, housing and potentially schools and nannies.

Estate agent Harry Tregoning, founder of Tregoning Property, has already noticed an sharp rise in business.

“I’ve had inquiries from two separate companies looking for more than 150 rooms for seven-month leases for Expo,” he said.

"One needs 25 two-bedroom flats for housing locally employed security staff and hostesses, the other group wants 46 two-bedroom flats for catering staff coming from Switzerland."

While thousands of staff will be coming from abroad, Mr Ali of Tasc Outsourcing believes the majority of the staff needed will be employed locally.

“We specialise in volume hiring, and Expo 2020 is a great opportunity for us. We can provide the experienced people, the client service managers," he said.

“We are looking to provide 2,000 to 3,000 people on short-term contracts.

“The demand is coming – it should be a very productive year," he said.

10 roles available at Expo 2020 Dubai

(Salaries are estimated and per month)

1) Pavilion guides – Dh8,000 ($2,178) - Dh12,000

2) Pavilion operations manager – Dh15,000 - Dh25,000 (depending on the size of the pavilion)

3) Receptionist and lounge staff – Dh6,000 plus accommodation

4) Media officer – Dh10,000 - Dh15,000

5) Protocol and events officer – Dh15,000 - Dh20,000

6) Housekeeping manager – Dh15,000 - Dh30,000 (depending on the size of the pavilion – some have 300 cleaners)

7) Hospitality – Dh2,000 plus accommodation

8) Events chef – Dh18,000 - Dh25,000

9) Events manager – Dh15,000 - Dh25,000

10) Acrobats, stage performers and musicians – freelance and paid per event (depending on skill level and success)

Maestro
%3Cp%3E%3Cstrong%3EDirector%3A%20%3C%2Fstrong%3EBradley%20Cooper%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%20%3C%2Fstrong%3EBradley%20Cooper%2C%20Carey%20Mulligan%2C%20Maya%20Hawke%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%203%2F5%3C%2Fp%3E%0A

Nancy 9 (Hassa Beek)

Nancy Ajram

(In2Musica)

THE LIGHT

Director: Tom Tykwer

Starring: Tala Al Deen, Nicolette Krebitz, Lars Eidinger

Rating: 3/5

Red flags
  • Promises of high, fixed or 'guaranteed' returns.
  • Unregulated structured products or complex investments often used to bypass traditional safeguards.
  • Lack of clear information, vague language, no access to audited financials.
  • Overseas companies targeting investors in other jurisdictions - this can make legal recovery difficult.
  • Hard-selling tactics - creating urgency, offering 'exclusive' deals.

Courtesy: Carol Glynn, founder of Conscious Finance Coaching

Women%E2%80%99s%20T20%20World%20Cup%20Qualifier
%3Cp%3E%3Cstrong%3EUAE%20fixtures%3C%2Fstrong%3E%3C%2Fp%3E%0A%3Cp%3E25%20April%20%E2%80%93%20Ireland%20v%20UAE*%3Cbr%3E27%20April%20%E2%80%93%20UAE%20v%20Zimbabwe**%3Cbr%3E29%20April%20%E2%80%93%20Netherlands%20v%20UAE*%3Cbr%3E3%20May%20%E2%80%93%20UAE%20v%20Vanuatu*%3Cbr%3E5%20May%20%E2%80%93%20Semi-finals%3Cbr%3E7%20May%20%E2%80%93%20Final%3Cbr%3E%3Cstrong%3EUAE%20squad%3A%20%3C%2Fstrong%3EEsha%20Oza%20(captain)%2C%20Al%20Maseera%20Jahangir%2C%20Avanee%20Patel%2C%20Heena%20Hotchandani%2C%20Indhuja%20Nandakumar%2C%20Kavisha%20Kumari%2C%20Khushi%20Sharma%2C%20Lavanya%20Keny%2C%20Mehak%20Thakur%2C%20Rinitha%20Rajith%2C%20Samaira%20Dharnidharka%2C%20Siya%20Gokhale%2C%20Suraksha%20Kotte%2C%20Theertha%20Satish%2C%20Vaishnave%20Mahesh.%3C%2Fp%3E%0A%3Cp%3E*Zayed%20Cricket%20Stadium%3C%2Fp%3E%0A%3Cp%3E**Tolerance%20Oval%3C%2Fp%3E%0A
RESULTS

2pm: Handicap (PA) Dh40,000 (Dirt) 1,000m
Winner: AF Mozhell, Saif Al Balushi (jockey), Khalifa Al Neyadi (trainer)

2.30pm: Maiden (PA) Dh40,000 (D) 2,000m
Winner: Majdi, Szczepan Mazur, Abdallah Al Hammadi.

3pm: Handicap (PA) Dh40,000 (D) 1,700m
Winner: AF Athabeh, Tadhg O’Shea, Ernst Oertel.

3.30pm: Handicap (PA) Dh40,000 (D) 1,700m
Winner: AF Eshaar, Bernardo Pinheiro, Khalifa Al Neyadi

4pm: Gulf Cup presented by Longines Prestige (PA) Dh150,000 (D) 1,700m
Winner: Al Roba’a Al Khali, Al Moatasem Al Balushi, Younis Al Kalbani

4.30pm: Handicap (TB) Dh40,000 (D) 1,200m
Winner: Apolo Kid, Antonio Fresu, Musabah Al Muahiri

Dhadak 2

Director: Shazia Iqbal

Starring: Siddhant Chaturvedi, Triptii Dimri 

Rating: 1/5

Company%20profile
%3Cp%3E%3Cstrong%3ECompany%20name%3A%20%3C%2Fstrong%3EXare%C2%A0%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3EJanuary%2018%2C%202021%C2%A0%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EFounders%3A%20%3C%2Fstrong%3EPadmini%20Gupta%2C%20Milind%20Singh%2C%20Mandeep%20Singh%C2%A0%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EDubai%C2%A0%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3EFinTech%C2%A0%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EFunds%20Raised%3A%20%3C%2Fstrong%3E%2410%20million%C2%A0%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ECurrent%20number%20of%20staff%3A%20%3C%2Fstrong%3E28%C2%A0%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EInvestment%20stage%3A%20%3C%2Fstrong%3Eundisclosed%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EMS%26amp%3BAD%20Ventures%2C%20Middle%20East%20Venture%20Partners%2C%20Astra%20Amco%2C%20the%20Dubai%20International%20Financial%20Centre%2C%20Fintech%20Fund%2C%20500%20Startups%2C%20Khwarizmi%20Ventures%2C%20and%20Phoenician%20Funds%3C%2Fp%3E%0A
THE BIO

Born: Mukalla, Yemen, 1979

Education: UAE University, Al Ain

Family: Married with two daughters: Asayel, 7, and Sara, 6

Favourite piece of music: Horse Dance by Naseer Shamma

Favourite book: Science and geology

Favourite place to travel to: Washington DC

Best advice you’ve ever been given: If you have a dream, you have to believe it, then you will see it.

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

The specs

Engine: 2.0-litre 4cyl turbo

Power: 261hp at 5,500rpm

Torque: 405Nm at 1,750-3,500rpm

Transmission: 9-speed auto

Fuel consumption: 6.9L/100km

On sale: Now

Price: From Dh117,059

Disposing of non-recycleable masks
    Use your ‘black bag’ bin at home Do not put them in a recycling bin Take them home with you if there is no litter bin
  • No need to bag the mask

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

RIVER%20SPIRIT
%3Cp%3E%3Cstrong%3EAuthor%3A%20%3C%2Fstrong%3ELeila%20Aboulela%C2%A0%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EPublisher%3A%3C%2Fstrong%3E%20Saqi%20Books%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EPages%3A%3C%2Fstrong%3E%20320%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EAvailable%3A%3C%2Fstrong%3E%20Now%3C%2Fp%3E%0A
What are NFTs?

Are non-fungible tokens a currency, asset, or a licensing instrument? Arnab Das, global market strategist EMEA at Invesco, says they are mix of all of three.

You can buy, hold and use NFTs just like US dollars and Bitcoins. “They can appreciate in value and even produce cash flows.”

However, while money is fungible, NFTs are not. “One Bitcoin, dollar, euro or dirham is largely indistinguishable from the next. Nothing ties a dollar bill to a particular owner, for example. Nor does it tie you to to any goods, services or assets you bought with that currency. In contrast, NFTs confer specific ownership,” Mr Das says.

This makes NFTs closer to a piece of intellectual property such as a work of art or licence, as you can claim royalties or profit by exchanging it at a higher value later, Mr Das says. “They could provide a sustainable income stream.”

This income will depend on future demand and use, which makes NFTs difficult to value. “However, there is a credible use case for many forms of intellectual property, notably art, songs, videos,” Mr Das says.

Benefits of first-time home buyers' scheme
  • Priority access to new homes from participating developers
  • Discounts on sales price of off-plan units
  • Flexible payment plans from developers
  • Mortgages with better interest rates, faster approval times and reduced fees
  • DLD registration fee can be paid through banks or credit cards at zero interest rates
The biog

Name: Abeer Al Shahi

Emirate: Sharjah – Khor Fakkan

Education: Master’s degree in special education, preparing for a PhD in philosophy.

Favourite activities: Bungee jumping

Favourite quote: “My people and I will not settle for anything less than first place” – Sheikh Mohammed bin Rashid.

Kanguva
Director: Siva
Stars: Suriya, Bobby Deol, Disha Patani, Yogi Babu, Redin Kingsley
Rating: 2/5
 
Diriyah%20project%20at%20a%20glance
%3Cp%3E-%20Diriyah%E2%80%99s%201.9km%20King%20Salman%20Boulevard%2C%20a%20Parisian%20Champs-Elysees-inspired%20avenue%2C%20is%20scheduled%20for%20completion%20in%202028%0D%3Cbr%3E-%20The%20Royal%20Diriyah%20Opera%20House%20is%20expected%20to%20be%20completed%20in%20four%20years%0D%3Cbr%3E-%20Diriyah%E2%80%99s%20first%20of%2042%20hotels%2C%20the%20Bab%20Samhan%20hotel%2C%20will%20open%20in%20the%20first%20quarter%20of%202024%0D%3Cbr%3E-%20On%20completion%20in%202030%2C%20the%20Diriyah%20project%20is%20forecast%20to%20accommodate%20more%20than%20100%2C000%20people%0D%3Cbr%3E-%20The%20%2463.2%20billion%20Diriyah%20project%20will%20contribute%20%247.2%20billion%20to%20the%20kingdom%E2%80%99s%20GDP%0D%3Cbr%3E-%20It%20will%20create%20more%20than%20178%2C000%20jobs%20and%20aims%20to%20attract%20more%20than%2050%20million%20visits%20a%20year%0D%3Cbr%3E-%20About%202%2C000%20people%20work%20for%20the%20Diriyah%20Company%2C%20with%20more%20than%2086%20per%20cent%20being%20Saudi%20citizens%0D%3C%2Fp%3E%0A
The rules of the road keeping cyclists safe

Cyclists must wear a helmet, arm and knee pads

Have a white front-light and a back red-light on their bike

They must place a number plate with reflective light to the back of the bike to alert road-users

Avoid carrying weights that could cause the bike to lose balance

They must cycle on designated lanes and areas and ride safe on pavements to avoid bumping into pedestrians

The specs: 2019 Subaru Forester

Price, base: Dh105,900 (Premium); Dh115,900 (Sport)

Engine: 2.5-litre four-cylinder

Transmission: Continuously variable transmission

Power: 182hp @ 5,800rpm

Torque: 239Nm @ 4,400rpm

Fuel economy, combined: 8.1L / 100km (estimated)

The specs
Engine: 3.0-litre twin-turbo flat-six

Power: 480hp at 6,500rpm

Torque: 570Nm from 2,300-5,000rpm

Transmission: 8-speed dual-clutch auto

Fuel consumption: 10.4L/100km

Price: from Dh547,600

On sale: now