President His Highness Sheikh Khalifa bin Zayed Al Nahyan has issued Federal Decree No. 20 of 2018 on anti-money laundering and countering the financing of terrorism. Commenting on the issuing of the Federal Decree, H.H. Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai and Minister of Finance, said, “The UAE’s wise leadership is […]
Financial analysts have hailed the new law issued to govern the Central Bank of the United Arab Emirates, and regulate financial institutions and activities as a step forward to bolster monetary performance and confidence in the economy. The new law raises CBUAE capital to AED20 billion and allows for the establishment of a general reserve […]
President His Highness Sheikh Khalifa bin Zayed Al Nahyan, has issued Federal Decree-Law No. 14 of 2018 regarding the ‘Central Bank and Organisation of Financial Institutions and Activities’. The provisions of this law does not apply to the Financial Free Zones in the State and the financial institutions regulated by the authorities of those zones. […]
President His Highness Sheikh Khalifa bin Zayed Al Nahyan, has issued Federal Decree-Law No. 14 of 2018 regarding the ‘Central Bank and Organisation of Financial Institutions and Activities’. The provisions of this law does not apply to the Financial Free Zones in the State and the financial institutions regulated by the authorities of those zones. […]
The Federation of UAE Chambers of Commerce and Industry and Mauritius have explored investment opportunities at a joint business forum, held yesterday in Port Louis. The forum aimed to introduce the attractive investment environment in the UAE and Mauritius, and briefed investors on both countries opportunities in key sectors. On the sidelines of the forum, […]
The Mohammed bin Rashid Fund (MBRF) of Dubai SME, the agency of the Department of Economic Development (DED) in Dubai mandated to develop the small and medium enterprise (SME) sector, has signed a Memorandum of Understanding with RAKBANK to facilitate SME access to competitive financing solutions. The MoU will allow Dubai SME members to secure […]
Juma Mohammed Al Keet, Assistant Under-Secretary of the Ministry of Economy for Foreign Trade Affairs, discussed with a US commercial delegation from leading companies in information technology, opportunities of trade and investment cooperation with the Emirati business community. The delegation was also briefed about the development in the UAE national economy, key economic strategies and […]
The Federal Tax Authority (FTA) has announced that Tax Refund for Tourists Scheme goes into effect on November 18, allowing eligible tourists to request refunds of the Value Added Tax (VAT) incurred on their purchases. The first phase will see the digital system of the Tax Refund for Tourists Scheme implemented at Abu Dhabi, Dubai […]
The Federal Tax Authority (FTA) has revealed that compliance with Tax Returns requirements for Excise Tax one year after its introduction in the UAE has amounted to 97.7% of registered businesses – one of the highest rates in the world – while the total number of registrants reached 715 registrants. Khalid Ali Al Bustani, Director […]
Khalid Ali Al Bustani, the Director-General of the Federal Tax Authority, FTA, has announced that procedures to reclaim Value Added Tax, VAT, for UAE nationals who are building new residences have been simplified with electronic procedures. The announcement was made today through a press release that detailed the latest updates on the VAT refund process […]
