05/19/2023
Corporate Tax: At Dh1m, UAE ensures sizeable upper limit for individuals in business unlike VAT's Dh375,000
VAT ceiling for individuals doing business is Dh375,000 in annual revenue
Legal, Tax, Regulation & Compliance
05/18/2023
UAE announces key tax rule update for resident, non-resident entrepreneurs
The Ministry of Finance has increased the tax threshold for business or business activities conducted by individuals
05/18/2023
All you need to know about mandatory UAE Unemployment Insurance Scheme
Pay up to Dh120 to receive up to Dh20,000 monthly if you lose your job or face Dh400 fine
05/17/2023
Saudi Arabia modernises arbitration rules
The court will be comprised of 15 Saudi and international expert legal practitioners, retired judges, former leaders of arbitral institutions and academics.
05/17/2023
Lebanon central bank chief did not attend French fraud hearing – judicial source
The three have been charged in two separate cases in Lebanon.
05/17/2023
UAE Central Bank imposes sanctions on 8 banks
The banks did not comply with guidelines on not granting loans to select
05/15/2023
KPMG: Building a regulatory ecosystem conducive to innovation and regulating it
Since governments have become increasingly aware of the importance of these technologies, they have begun taking measures to ensure their citizens have access to these technologies.
05/12/2023
Federal Tax Authority organises an awareness session on the amendments to Emirates’ reporting for electronic commerce supplies
H.E. Khalid Al Bustani: Clear mechanisms for e-commerce transactions’ reporting to capture accurately receipt and consumption in this vital sector
05/10/2023
Central banks 'should change regimented ways' of regulating FinTech industry
Frameworks should be upgraded to allow expansion of industry and maintain oversight, Bahrain central bank governor says
05/10/2023
Abdalrahman Bin Kharbash (PwC) wins 'Best Emirati Talent' award
Notably, Abdalrahman received the award in the presence of UAE’s two most influential leaders: President Mohamed bin Zayed Al Nahyan, and Vice President, Prime Minister, and Ruler of Dubai, Mohammed bin Rashid Al Maktoum.
05/10/2023
Emirates NBD to collaborate with DIFC to advance shared goal of supporting the Dubai Economic Agenda D33
Letter of Intent signed at Dubai FinTech Summit 2023 by Arif Amiri CEO of DIFC Authority and Abdulla Qassem, Group Chief Operating Officer, Emirates NBD
05/05/2023
Oman Central Bank raises interest rate by 25 basis points
Raising the interest rate includes a number of advantages for the Sultanate of Oman
05/05/2023
DIFC enacts new Venture Studio regulations
This move will establish the first global legal framework for the regulation of venture building, which will aim to promote the growth of innovative start-ups and scale-ups in the region from within DIFC
05/05/2023
Dubai's Drake & Scull registers lawsuit against PricewaterhouseCoopers
Lawsuit in Dubai Court of First Instance comes after independent consultant's report
05/04/2023
Most GCC central banks raise interest rates tracking US Fed move
Central banks in the GCC usually track the Fed’s policy rate moves as their currencies are pegged to the US dollar
05/03/2023
Bank Nizwa partners with Buna to offer seamless cross-border payments
Will provide its customers with seamless payments in both Arab and international currencies, within a safe, risk-controlled and transparent environment
05/03/2023
UAE's mandatory job loss insurance scheme: 2 new employee categories added
Failure to subscribe by June 30 will result in a penalty for employees
05/02/2023
UAE Banks Federation approves 2023 strategy for banking sector development
The participants praised the role of the UBF General Secretariat in strengthening cooperation with banking associations and federations in friendly countries, enabling dialogue and knowledge sharing.
05/02/2023
Bank Nizwa signs a MoU with the Specialised Institute for Professional Training of Teachers
Aiming to support the education sector in the Sultanate
04/28/2023
DIFC data protection regulations set for AI update
Under the plans, businesses would be required to ensure that the AI systems they use are designed in accordance with principles of fairness, ethicality, transparency, security and accountability.