Foolish to fake it: risks and penalties of not following Emiratisation rules
“The UAE government policy to support Emiratisation or increased participation of UAE nationals in the private sector workforce has been around for several years now,” states Dr Laura Voda. “Other GCC states including Saudi, Oman,…
Marine Insurance Roundtable 2019
New maritime regulations in 2020 to target more foreign investment The new law will open up the maritime sector for foreign investors. The Federal Transport Authority (FTA) in the UAE is working on a whole…
Abraaj gets Dh1.156 billion DFSA fine
[vc_row][vc_column][vc_column_text] Some major violations committed by Abraaj entities include carrying out unauthorised financial services. Dubai regulator on Tuesday penalised two Abraaj Group entities with a record Dh1.156 billion in fines - the biggest penalty by…
10-Point Guide to Antitrust and Competition Law in the UAE
Until the issue of the Federal Law No. 4 of 2012 on the Regulation of Competition, the United Arab Emirates (UAE) lacked a composite law on competition, with elements of competition law strewn over various…
European Union removes UAE from tax haven blacklist
[vc_row][vc_column width="3/4"][vc_column_text] UAE was confident of swift removal from the tax haven list in 2018. The UAE, along with seven other countries, has been removed from the European Union's list of Uncooperative Tax Havens as…
An Overview of the Appeal Process in Dubai Court
Dubai Court was founded in the year 1970 and has come to be known as prompt and equitable in the implementation of justice. Dubai Court is an integrated unit consisting of: The Court of First…
UPDATE: FTA Releases List of Designated Zones
[vc_row][vc_column][vc_column_text]The Federal Tax Authority has issued Cabinet Decision no. 59 of 2017 on Designated Zones (“Cabinet Decision”) for the purposes of Federal Law no. 8 of 2017 on Value Added Tax (“VAT Law”). Art. 50…
UPDATE: VAT Seminar – VAT in the UAE and the Implications for the Shipping Sector
We are pleased to have presented Jasmin Fichte as a main speaker of the VAT seminar titled “VAT in the UAE- Implications for the Shipping sector” on December 6th 2017. The seminar was introduced by…
UPDATE: The New VAT Executive Regulations
The long-awaited Draft Cabinet Decision on the Executive Regulation of Federal Decree Law no. 8 of 2017 on VAT (the “Regulations”) have recently been issued by the Federal Tax Authority. The Regulations have provided guidance…