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Dubai International Airport Sets New Passenger Record Amid Rapid Recovery

by THEFUTURE.TEAM
July 30, 2025

Dubai International Airport (DXB), renowned as the world’s busiest air travel hub, has surpassed expectations by recording 46 million passengers in the first half of 2025. This represents a 2.3% increase over the same period last year, underscoring the airport’s resilience and rapid recovery from recent disruptions in the region.

Resilience Amid Geopolitical Upheaval

Despite ongoing challenges stemming from the 12-day air conflict between Iran and Israel—which concluded with a US-brokered ceasefire—and subsequent disruptions across the Middle East, Dubai International Airport has demonstrated an impressive recovery. Paul Griffiths, CEO of Dubai Airports, expressed confidence in the airport’s robust performance, remarking that the recent travel disturbances were both unexpected and notably short-lived. “Our passenger base continues to be strong,” Griffiths noted in a Reuters interview.

Optimistic Passenger Forecast

Looking ahead, Griffiths forecast a continued upward trajectory with DXB expected to handle 96 million passengers this year, building on last year’s record 92 million, and reaching an estimated 100 million by 2026. As a central hub for Emirates and flydubai, alongside several other major carriers, DXB’s recovery and growth reflect not only strategic planning but also sustained global trust in Dubai’s air travel network.

Future Expansion and Strategic Shifts

In anticipation of future capacity demands, Griffiths outlined plans for exponential annual traffic growth at DXB, projecting up to 115 million passengers by 2032. This milestone coincides with the opening of a massive $35 billion terminal at Al Maktoum International (DWC). Owned by state-controlled Dubai Airports, both DXB and DWC are poised for transformative changes: with DWC set to become Dubai’s primary international gateway, its capacity is expected to soar to 260 million passengers by 2032—five times the size of DXB.

Looking to the Future

Addressing concerns over capacity saturation at DXB, Griffiths highlighted the limitations faced by airline slots at the current hub, which further accentuates the growth seen at DWC, with a notable 36.4% surge in passenger traffic in the first half of the year. While speculation about a potential IPO for Dubai Airports remains active, any decision on public listing will ultimately rest with the Dubai government, which maintains full ownership of the firm.

In a dynamic landscape punctuated by geopolitical and economic challenges, Dubai International Airport’s latest achievement underscores its strategic importance and operational excellence in global aviation.

EU E-Commerce VAT Systems Generate €257.9 Million Revenue for Cyprus in 2024

by THEFUTURE.TEAM
August 11, 2025

Robust Revenue Growth Through Streamlined VAT Collection

Cyprus has demonstrated a significant fiscal boost in 2024 with €257.9 million generated from the European Union’s e-commerce VAT systems, according to Tax Commissioner Sotiris Markides. This impressive performance underscores the effectiveness of the One Stop Shop (OSS) and Import One Stop Shop (IOSS) frameworks in simplifying cross-border tax compliance.

Simplified Procedures for EU and Non-EU Businesses

The OSS system allows Cyprus-registered businesses to streamline VAT declaration and payment on sales to consumers in other EU countries. Companies simply register on the local OSS platform, apply the consumer’s VAT rate, aggregate their submissions quarterly or monthly, and remit a single consolidated payment. Subsequently, Cyprus allocates the appropriate share to each respective EU country. This efficient process extends to non-EU sellers as well, who can have their intra-EU distance sales managed under the Union Scheme.

Breakdown of VAT Revenue Streams

Last year’s declarations under the various schemes illustrate the system’s broad reach: €217.9 million was collected via the Union Scheme, €36.9 million through the Non-Union Scheme, and €3.1 million via the Import Scheme. While the Union Scheme caters to both EU and non-EU sellers engaging in distance sales, the Non-Union Scheme specifically accommodates non-EU firms delivering services to EU consumers. Furthermore, the Import Scheme targets goods valued at less than €150 that are imported from outside the EU.

Implications and Broader Impact

Implemented in July 2021 as an evolution from the more limited MOSS system, these reforms have not only consolidated tax collection through an expansive OSS but also integrated the IOSS for low-value imports. By designating certain online marketplaces as “deemed suppliers,” the new framework ensures that VAT collection is both efficient and equitable. Across the EU, these mechanisms have generated over €33 billion in VAT revenues in 2024, reflecting a successful effort to simplify tax compliance, reduce administrative burdens, and promote fair taxation across the bloc.

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