corporate governance Archives - Fichte & Co Legal

Updates on Corporate Tax: incentives for small businesses, exemptions from tax and unified filings for governmental entities

Dr. Laura Voda — Mon, 01 May 2023 20:31:40 +0000

Federal Decree Law No.47 of 2022 on the Taxation of Corporations and Businesses (the “Corporate Tax Law”) is, without doubt, one of the major developments in the UAE’s legislative landscape of the past years. Introducing a major compliance requirement for the entities whose permanent establishment is in UAE, the Corporate Tax Law had a number …

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Summary of the new UAE VAT Law

Fichte Legal — Mon, 11 Sep 2017 09:49:43 +0000

On 23 August 2017, the UAE published Federal Decree Law No. 8 of 2017 on Value Added Tax (“VAT Law”) which comes into effect on 1 January 2018 and sets out the framework within which VAT will be levied in the UAE. We have set out below the key points in relation to the implementation …

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Directors Liability in the UAE: what you need to know

Fichte Legal — Sun, 27 Aug 2017 08:20:41 +0000

C-level leaders, corporate directors, and company owners are given a great deal of power when running their organizations and divisions, both onshore and offshore, in the United Arab Emirates (UAE). Failing to follow the laws of the UAE can jeopardize the company as well as the director’s reputation, and may even lead to criminal liability. …

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The Status of Anti-Corruption Legislation in the UAE

Jasmin Fichte — Mon, 07 Aug 2017 05:04:09 +0000

On 10 June 2017, Robert Bosch Middle East (“Bosch”) was the first company in the region to be awarded an anti-bribery certification by Tasneef-Rina Business Assurance. The standard implements best practices when it comes to fighting bribery and corruption, and contributes to the UAE’s goals of achieving transparency and creating a healthy business environment. As …

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Deciphering Due Diligence in the UAE

Fichte Legal — Sun, 09 Apr 2017 00:30:44 +0000

Clients often ask us, “How can we conduct legal due diligence or background checks on another party in the UAE?” Unfortunately, there’s no straightforward answer. With no centralised company register, and over 40 different free zones, obtaining basic information about UAE free zone companies may pose a daunting challenge. Even so, there are still effective …

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Transformation of Offshore Jurisdiction in Ras Al Khaimah

Fichte Legal — Mon, 19 Dec 2016 02:43:38 +0000

International business companies (IBCs) incorporated or proposed to be incorporated in Ras Al Khaimah must note the recent establishment of the Ras Al Khaimah International Corporate Centre (RAKICC) which, going forward, will be the sole authority responsible for the incorporation of international business companies in this emirate. The RAKICC was formed pursuant to Decree 12/2015 …

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