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ABU DHABI / Emirates Business
The strength and role of Abu Dhabi Global Market (ADGM) as a strategic hub for aircraft financing and leasing has been endorsed and corroborated by PwC in the newly published Aviation Comparative Jurisdiction Report (the ‘Aviation Report’). ADGM, the International Financial Centre in Abu Dhabi, worked with PwC to analyse the wide and expanding Double Tax Treaty (DTT) network that ADGM companies conducting aircraft finance and leasing activities from ADGM would have access to. The extensive analysis compares the UAE DTT network and corporate tax positioning to the traditional global hubs for aviation finance, namely Ireland, Singapore, Hong Kong and Cayman Islands.
Based on the report, the UAE has an extensive network of tax treaties, with 83 in force and a further 32 in various stages of negotiation, signature or ratification. The UAE has a wider network than the comparison jurisdictions and clear comparative advantages with particularly strong coverage in Central Asia and Africa as well as especially strong treaties with the burgeoning aviation markets of India and Indonesia.