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A&M Taxand is continuously monitoring state and local government emergency relief measures as they continue to evolve. This page will remain updated on a regular basis.

The COVID-19 pandemic’s effects have been unevenly distributed. Travel and hospitality companies that were extremely stable and successful until the spring have found themselves in extremely tough positions. In contrast, technology companies with far less secure business models have benefited from a ‘rising tide lifts all boats’ effect in the tech space.

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For decades, the Middle East controlled the oil supply and managed its pricing. Drastically decreasing demand coupled with a growing appetite for alternative energy sources has increased the Gulf states’ government debt from approximately $100 billion (2014) to $400 billion (2018).

Organisations can be forgiven if they feel caught in the middle of a perfect storm created by regulatory change, the pandemic-induced economic downturn and the prospect of a pincer-movement by Data Protection and Competition Authorities driven by the marked increase in data-driven activities.