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Authority of committee under the Bankruptcy Law

The Committee shall have the following authority: To supervise the administration of the financial reorganisation of financial establishments licensed by the Competent Supervisory Authority, in order to facilitate amicable agreements between the Debtor and its...

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Bankruptcy law applicability in UAE

The provisions of the Bankruptcy Law shall apply to: Companies governed by the Commercial Companies Companies not established under the Commercial Companies Law and which are wholly or partly owned by the federal or local government, and which have enabling...

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VAT on sale of business

There are three common ways in which a business can be sold: Sale of asset Sale of business ownership by sale of shares Sale of business as a going concern VAT applicability is different in each of the three mentioned scenarios. 1.       Sale of asset: Normally, when...

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Cabinet Decision No. (10) of 2019 CONCERNING THE IMPLEMENTING REGULATION OF DECREE LAW NO. (20) OF 2018 ON ANTI- MONEY LAUNDERING AND COMBATING THE FINANCING OF TERRORISM AND ILLEGAL ORGANISATIONS

CONCERNING THE IMPLEMENTING REGULATION OF DECREE LAW NO. (20) OF 2018 ON ANTI- MONEY LAUNDERING AND COMBATING THE FINANCING OF TERRORISM AND ILLEGAL ORGANISATIONS The Cabinet, - Pursuant to the perusal of the Constitution; - Federal Law No. (1) of 1972 concerning the...

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Definitions under Excise

In the application of the provisions of the Excise Tax, the following words and expressions shall have the meanings assigned against each, unless the context requires otherwise: State: United Arab Emirates. Minister: Minister of Finance. Authority: Federal Tax...

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