Regulations Archives - Fichte & Co

August 19, 2019

Abraaj gets Dh1.156 billion DFSA fine

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 any regulatory authority in the UAE - for violating its regulations and deceiving investors. The Dubai Financial Services Authority (DFSA) said...

August 28, 2018

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 legislations. In 2013, the said law came into force, aiming to curb anti-competitive practices and regulate economic concentrations. This article...

January 24, 2018

European Union removes UAE from tax haven blacklist

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 the country further enhanced its transparency in tax procedures. As a mark of strengthening ties with EU partners, the UAE signed 113...

January 18, 2018

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 Instance The Court of Appeal The Court of Cassation - the highest court in the judicial system This article will...

January 10, 2018

UPDATE: FTA Releases List of Designated Zones

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 of the VAT Law had initially made references to designated zones, and Art. 51 of the Executive Regulations to the...

December 7, 2017

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 Ahmed Al Falahi, UAESA vice chairman, and followed by speeches from Jasmin Fichte, of Fichte & Co, Gajendra Maheshwari and...

November 27, 2017

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 on some of the provisions mentioned in the Federal Decree Law no. 8 of 2017 on VAT (the “Law”) including...