In the UAE, limitation periods vary across different areas of law, governed by the Civil Code, Commercial Code, Labor Law, and other statutes. Understanding these timelines is crucial for individuals and businesses to safeguard their rights and avoid forfeiting claims due to procedural time bars. Below, we delve into these statutes with practical examples and […]
Updated Ministerial Decisions: Ministerial Decision No. (301) of 2024: Addresses Tax Groups under Federal Decree-Law No. 47 of 2022, introducing administrative simplifications. Ministerial Decision No. (302) of 2024: Provides further clarity on the Participation Exemption and Foreign Permanent Establishment Exemption. Highlights of the Revisions: I. Amendments to Tax Group Regulations The updated Ministerial Decision No.
While both serve the purpose of delivering justice, arbitration and litigation differ significantly in terms of process, flexibility, cost, and enforceability. Understanding these differences is essential for businesses to make informed decisions. This article provides a comparative analysis of these two methods, offering key considerations for businesses to determine which is the most appropriate for
Litigation v. Arbitration in the UAE Read More »
This development follows updates to Federal Decree-Law No. 47 of 2022 on the Taxation of Corporations and Businesses, further amended by Federal Decree-Law No. 60 of 2023. The DMTT will apply to financial years starting on or after January 1, 2025. This strategic measure reflects the UAE’s commitment to implementing the Organisation for Economic Co-operation
UAE Introduces 15% Domestic Minimum Top-Up Tax for Multinationals Read More »
This regulatory vacuum not only raises questions about the quality of arbitral awards but also places undue strain on parties who seek fair and thorough adjudication of their disputes. The Problem: Overburdened Arbitrators and Unjust Outcomes Our firm was recently engaged in an arbitration where the dismissal of a claim was based on an obscure
The Need for Regulation on Arbitrators’ Workload in DIAC Arbitrations Read More »
Effective from 1 June 2023, this decision introduces updates regarding Unincorporated Partnerships, Foreign Partnerships, and Family Foundations. The key objectives of these updates include: Clarity in Tax Obligations: These structures often operate outside the framework of traditional corporations, making their tax obligations less clear. Properly defining their tax treatment ensures consistency and eliminates ambiguity in
Unlike static systems in other jurisdictions, the UAE’s CT return dynamically adjusts based on taxpayer inputs, demanding detailed preparation and precise data management. Key Observations from the Tax Return Guide: Tailored Filing Requirements: Taxpayers must ensure their EmaraTax registration details are accurate, as these influence the return fields and schedules. Detailed Free Zone Schedules: Qualifying
UAE Corporate Tax: “Tax Returns” Guide Read More »
Historic Overview – Economic Substance Regulations (ESR) These regulations aimed to ensure that companies conducting certain “Relevant Activities” within the UAE maintain substantial economic activity. Compliance required companies to meet three core tests: the Core Income Generating Activity (CIGA) test, the Adequate Local Substance test, and the Directed and Managed test. Key Amendments to the
Key Changes in UAE Economic Substance Regulations: Essential Updates for Businesses Read More »
On 2 October 2024 the Federal Tax Authority (“FTA”) published the amended version of the Executive Regulation of Federal Decree-Law No. 8 of 2017 on Value Added Tax (“Executive Regulation”). The amendments are implemented following Cabinet Decision No. (100) of 2024 and are effective from 15 November 2024 and bring new VAT exemptions aimed at
Recent Amendments to the UAE VAT Executive Regulation Read More »
Historic Overview Subletting is a common practice in the real estate market, especially where landlords entrust leasing agents to manage properties. These agents, acting as original tenants, may sublease the property to third parties. However, with rising rental costs, many tenants in UAE resort to sharing accommodation to split expenses, often without the landlord’s consent.
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