The Ministry of Finance in the UAE has announced that business owners will be liable for corporate tax only if their annual turnover exceeds Dh1 million ($272,294). This new development, outlined in Cabinet Decision No. (49) of 2023, aims to clarify the application of the corporate tax regime and ensure that only income related to business activities is subject to…
Goumbook, a social enterprise dedicated to promoting sustainable living, has recently launched a new campaign called Unisoap UAE in an effort to combat hotel waste. The campaign, which is a collaboration with the France-based non-profit company Unisoap, aims to promote hygiene in vulnerable communities and increase employability in the waste sector while reducing hotel waste. According to Tatiana Antonelli Abella,…
The top ministers of the UAE emphasized the need for an all-inclusive dialogue to drive tangible changes and secure the future of generations to come at the UN Climate Change Conference (COP28 UAE). They highlighted the importance of addressing the biggest problems, including access to technologies, access to financing, and an effective mechanism to achieve carbon neutrality across the world.…
On 27 April 2023, Cynthia Trench of Trench & Associates DMCC, had the privilege of attending the International Family Conference in Abu Dhabi, which was arranged by Expatriate Law. Cynthia had the privilege of being a speaker on a Panel of Speakers that was invited to speak about Asset Protection. The panel was expertly headed by Mr Yann Mzarek, a…
The UAE has taken steps to ensure that employees are paid their salaries on time through the implementation of the Wages Protection System (WPS). The WPS is an electronic salary transfer system that requires employers to pay their employees through approved financial institutions. Failure to comply with this requirement has led to more than 3,000 establishments being referred to the…
The UAE has initiated the extradition process of a British citizen to Denmark who is suspected of defrauding Danish tax authorities of over $1 billion, according to a UAE official. Sanjay Shah, the suspect, allegedly submitted applications to the Danish Treasury for dividend tax refunds worth more than 9 billion Danish crowns ($1.32 billion) on behalf of investors and companies…
The UAE Ministry of Finance has issued Ministerial Decision No. 73 of 2023 on Small Business Relief to support start-ups and small or micro businesses by reducing their corporate tax burden and compliance costs. This decision is in accordance with Article 21 of the Corporate Tax Law, which treats the taxable person as not having derived any taxable income in…
Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, the newly appointed Crown Prince of Abu Dhabi, is known for his passion for sports and his leadership in national projects that will shape the future of the UAE. As the Chairman of the Abu Dhabi Executive Office and a Member of the Abu Dhabi Executive Council, Sheikh Khaled has spearheaded several…
The recent leadership appointments announced by the UAE President, Sheikh Mohamed bin Zayed Al Nahyan, have been praised by leaders across the Emirates, including His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE, and other members of the Supreme Council and Rulers of the Emirates. Sheikh Mansour bin Zayed Al Nahyan has been appointed…
The UAE has introduced a new application process for families seeking to obtain a multiple-entry tourist visa. The Federal Authority for Identity, Citizenship, Customs & Port Security (ICP) has streamlined the application process so that families can apply as a group, rather than submitting separate applications for each family member. This new process has been designed to make it easier…
