News
The Supreme Audit Institution in the UAE is being replaced by the UAE Accountability Authority. The new Authority will be instrumental in UAE’s effort to curb Bureaucratic corruption and offer improved protection and safeguards to whistleblowers. Background WAM (Emirates News Agency), the official news agency of the United Arab Emirates (UAE) has reported on […]
Ajay Denny · 26 Dec 2023 · 2 minRead →
Law Updates
Judicial fees in Ras Al Khaima courts are substantially reduced for various legal proceedings, including civil and commercial lawsuits, rental disputes, and executive cases. Fee reductions for appeals made before the Courts of Appeal and Cassation. Jointly intervening litigants can engage in the legal process without incurring additional charges for their motions. On November 16, […]
Aparna T Nambissan · 26 Dec 2023 · 3 minRead →
Corporate and Commercial
Learn how to make a Tax Assessment Review Request and Tax Assessment Reconsideration Request in the UAE. Background of Federal Tax Authority As communicated in the Federal Decree-Law No. 28 of 2022 and Cabinet Decision No. (74) of 2023 On the executive Regulation of Federal Decree-Law No. (28) of 2022 on Tax Procedures, the […]
Ajay Denny · 26 Dec 2023 · 4 minRead →
ADGM
The Abu Dhabi Chamber of Commerce and Industry has unveiled the Abu Dhabi International Arbitration Centre (arbitrateAD), a new international arbitration centre situated in Abu Dhabi. Starting February 1, 2024, the new governance framework and arbitration regulations will supersede those of the Abu Dhabi Commercial Conciliation and Arbitration Centre (ADCCAC). This significant development marks a […]
Reshma Rose Jacob · 22 Dec 2023 · 6 minRead →
Law Updates
Medical Termination of Pregnancy is allowed when: aborting the fetus is the only option available to save the life of the pregnant woman. the fetus is malformed, with high chance of stillbirth or deficiencies in the child’s health, development and quality of life. Private health facilities must refrain from abortion operations unless they hold specific […]
Jerome Jose · 21 Dec 2023 · 7 minRead →
Compliance in the UAE
Federal Decree-Law No. (32) of 2023 on Finance Lease comes into effect on 29 March 2024 Bilateral and tripartite leasing includes sale-leaseback arrangements Registration of a finance lease agreement is no more mandatory; but needed to ensure enforceability with third parties In a tripartite lease arrangement, the risk of loss concerning the leased asset is […]
Amy Denny · 17 Dec 2023 · 6 minRead →
News
Wooing corporates: KSA’s tax strategy to lure companies into shifting regional HQ to Saudi The Background Competition is intensifying between Kingdom of Saudi Arabia (KSA) and the United Arab Emirates (UAE), two of the biggest economies of the GCC, to become economic superpowers. KSA, the world’s largest oil exporter, has been actively pursuing bold […]
Ajay Denny · 15 Dec 2023 · 3 minRead →
ADGM
Free Zones in the UAE (United Arab Emirates) has been a key factor showcasing the country as a global business hub, attracting investors and entrepreneurs from around the world. One of the key factors contributing to this success is the establishment of Free Zones, which serve as specialized economic zones offering a range of benefits […]
Reshma Rose Jacob · 12 Dec 2023 · 13 minRead →
Corporate and Commercial
In a significant development for businesses operating in the UAE, the landscape of UAE corporate tax is undergoing a transformative shift. The latest developments, encapsulated in Cabinet Decision No. 100 of 2023 and Ministerial Decision No. (265) of 2023 have replaced the erstwhile Cabinet Decision No. 55 of 2023 bringing about critical adjustments to the […]
Ajay Denny · 8 Dec 2023 · 2 minRead →
Intellectual Property
New patent fees tailored specifically for small and medium businesses (SMEs). Reinstates fees for services such as annuities and change of representation. Amended fee structure for enhanced Industrial Property Rights regulation takes effect by January 15, 2024. With the introduction of new patent fees and reinstating certain abolished fees, the United Arab Emirates (UAE) […]
Saniya Mariam Thomas · 1 Dec 2023 · 4 minRead →