Skilled workers, both Emirati and expatriates, can now enter a multiple employer contract after obtaining approval of the Ministry The Minister of Human Resources and Emiratisation said that the new system will boost labour market flexibility and fulfil the needs of employers and reduce dependence on foreign workers. ABU DHABI: Skilled workers, both Emirati [...]
The Federal Tax Authority (FTA) of the United Arab Emirates has given a reprieve to firms that missed the deadline to register for value-added tax (VAT). Companies eligible for VAT - those with a turnover of 375,000 dirhams ($102,110) or more - had been told by the FTA that they needed to register before December [...]
United Arab Emirates has established itself as a safe, family friendly and low tax environment while maintaining international relationships with other global centers. It offers a set of benefits to every investors and corporate entities and the availability of best business strategies with broad options for various types of company formations and business opportunities makes [...]
UAE's tax authority launches four-step guide to filing VAT returns FTA says registered companies should check its website to see if they need to file on a monthly or quarterly basis. The Federal Tax Authority (FTA) in the United Arab Emirates has produced a guide advising companies on the process for filing tax returns [...]
On December 17, 2017, Sheikh Hamdan bin Rashid Al Maktoum, the Deputy Ruler of Dubai and UAE Minister of Finance has given the final warning to all businesses to comply with the executive regulations of the federal law on VAT. According to the Minister, it is important to complete the VAT registration via the [...]
VAT News Update The countdown for the implementation of VAT has started, UAE is now ready to welcome 2018 and implement the VAT starting on 1st January. All UAE residents and visitors will be liable to 5% VAT. In August 2017, the executive regulations that details the threshold for mandatory and [...]
On December 5, 2017, European Union announced the list of blacklisted global tax haven countries including the United Arab Emirates. The EU originally examined 92 jurisdictions and has worked hard to finalize the list. There were different views and perceptions on this action by the EU. Some says that the decision was politically [...]
Shaikh Ahmad Bin Saeed Al Maktoum, president of Dubai Civil Aviation and CEO and Chairman of Emirates airline and Group, officially inaugurated the Middle East’s largest construction event, The Big 5, and the co-located Big 5 Solar in Dubai. The also took a tour of the exhibition that covers the entire [...]
Al Ghurair says banks and insurance firms need six months to prepare once implementing regulations are published. Financial institutions in the United Arab Emirates are not yet ready for the implementation of value-added tax, which is set to come into effect within weeks, a senior UAE banker said. “We call to postpone implementing [...]
MENA countries achieve better scores in Paying Taxes report due to lighter tax regimes in many Gulf states The United Arab Emirates’ position in the annual Paying Taxes rankings compiled by the World Bank and PwC will not be impacted by the introduction of new forms of taxation if they are implemented smoothly, according [...]
