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Indications from the new tax law announced last week point to a system that UAE banks and financial institutions will have both exempt as well as taxable supplies. Indications from the new tax law announced last week point to a system that UAE banks and financial institutions will[…]
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The new UAE bankruptcy law approved by the UAE Cabinet this week is likely to come into effect early next year.Obaid Humaid Al Tayer, Minister of State for Financial Affairs, told a press conference that the law will come into effect three months after its publication in the[…]
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Under CRS – similar to the Foreign Account Tax Compliance Act introduced by the US to tackle tax evasion and target sources of undeclared wealth. Foreign financial institutions (FFIs) will be required to report financial information to local tax authorities and the central bank. The latter will then[...]
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