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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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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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Products on which excise is paid in UAE

Excise Goods Tax shall be applicable on the following Excise Goods: Tobacco and tobacco products Tobacco and tobacco products shall include all items listed within the GCC Common Customs Tariff that are imported, cultivated or produced in the State. Carbonated drinks...

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What is supply for VAT

Supply of services is anything that can be supplied other than goods and supply of goods shall mean physical property that can be supplied including: A transfer of ownership of Goods or the right to use them from one Person to another Person shall include for...

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What is excise tax?

Excise Tax was introduced across the UAE in 2017. Excise tax is a form of indirect tax levied on specific goods which are typically harmful to human health or the environment. These goods are referred to as “excise goods”. When considering whether a product is an...

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