More than 300,000 individuals and tax groups have registered for value-added taxes in the two years since the system was put in place, according to the UAE’s Federal Tax Authority (FTA). In a statement marking two years since VAT came into force on January 1, 2018, the FTA also said a total of 3.2 million […]

The Vice President and Prime Minister of the UAE, Ruler of Dubai, HH Sheikh Mohammed bin Rashid Al Maktoum has announced a district titled Dubai Future District. It will connect DIFC, Emirates Tower and Dubai World Trade Centre by a bridge, making it the region’s largest district dedicated to future economic developments. In addition, HH […]

According to the local newswire, the Government of Sharjah has unveiled a budget of AED 29.1 billion for the year 2020, a two percent increase compared to 2019’s budget. Sheikh Mohammed bin Saud Al Qasimi, the Chairman of Sharjah Central Finance Department, said, “The general budget for this year is considered the largest in the […]

DIFC has amended its Employment Law to bring about the end of the current End of Service Gratuity (“EoSG”) regime and replace it with the DIFC Employee Workplace Savings Scheme (“DEWS”). DEWS will offer a low-cost investment platform that will replace the existing EoSG regime. As of January 1, 2020, all employers in the DIFC […]