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The Minister of Commerce has unveiled new rules that require all companies in Saudi Arabia (subject to some exemptions) to identify and disclose their ultimate beneficial owners (UBOs) and maintain accurate and up-to-date beneficial owner records. The rules apply as from 3 April 2025.  

The UAE has been actively aligning its tax policies with international standards to foster a transparent and robust economic environment. In this context, the Ministry of Finance (MoF) announced the introduction of a Domestic Minimum Top-Up Tax (DMTT) on MNEs effective from 1 January 2025 through Cabinet Decision No. 142 of 2024.