For Gulf corporates seeking to maximize their tax breaks, Islamic finance products now offer an even more attractive prospect, due to their exemption from the new GCC Value Added Tax (VAT) law due to come into effect from the 1st January 2018. The UAE’s Federal Tax Authority in November published the draft Executive Regulations of Federal Decree Law No. 8 of 2017, which introduces a 5% VAT on the import and supply of goods and services in the UAE and....