Insight Category: News
The recent key forums, Africa Energy Forum, invest in Africa Energy Forum, World Energy Forum and Green Hydrogen Mena and the UAE-Africa Debate, greatly highlighted amongst other key topics; the fact that transitioning to renewable energy is a complex process that comes with several significant challenges. This sits against the backdrop of the need to… Continue reading The renewable energy transition and Its inherent challenges coupled with the role of the UAE in this sector...
The connection between Kuwait’s proposed tax amendments, including the introduction of a 15% corporate tax rate effective from 1 January 2025, and broader global tax developments may not seem direct at first glance. However, both are deeply intertwined with efforts to align with international tax standards set by the Organisation for Economic Co-operation and Development… Continue reading Kuwait and UAE Corporate Tax Amendments: Aligning with International Standards...
The UAE is currently experiencing significant growth and shows little signs of slowing for 2025. To ensure that the growth does not slow and that the infrastructure keeps up accordingly, the UAE is making several changes for the year 2025. These changes include, but are not limited to, the update of traffic laws, sewage systems,… Continue reading UAE 2025: Infrastructure Enhancements and Mandatory Boardroom Gender Diversity for Private Joint-Stock Companies...
As 2024 comes to an end, the UAE continues to lead the way in innovation, sustainability, and progress. This year’s accomplishments have not only transformed the nation but also created opportunities and benefits that extend to everyone who lives and works within its borders, as well as its partners and collaborators worldwide. These achievements demonstrate… Continue reading The UAE’s Remarkable Achievements in 2024: Progress for All...
This article is originally published in Thomson Reuters A Practical note addressing the legal and practical considerations in the mainland of the United Arab Emirates for a company director where that company is in financial distress and may subsequently enter insolvency proceedings. This note also outlines the types of claims that an official appointed to… Continue reading UAE: Risks for transactions and directors in financially distressed businesses...
This guide is originally published in LexisNexis Middle East 1. What is the main law covering Corporation Tax in this jurisdiction? The primary law governing Corporation Tax in the UAE is Federal Decree-Law No. 47 of 2022 on the Taxation of Corporations and Businesses. This law, issued on October 3, 2022, represents a major policy… Continue reading UAE Corporate Tax Q&A...
The UAE has introduced substantial amendments to its Economic Substance Regulations (ESR) through Cabinet Decision No. 98 of 2024. This update modifies earlier ESR provisions, aligning them with international standards and reducing the regulatory burden on UAE-based companies. Key Changes Impact on Corporate Tax ComplianceThese amendments to the ESR are introduced alongside the UAE’s corporate… Continue reading UAE implements major changes to economic substance regulations...
Foundations, a unique legal entity blending aspects of private companies and trusts, have gained significant traction in the United Arab Emirates (UAE). Established by a founder, these entities possess an independent legal personality, enabling them to own assets and enter into contracts in their own name. Drawing inspiration from principles outlined in cases like Salomon… Continue reading Foundations in the United Arab Emirates: A Versatile Legal Entity...
On 30 September 2024, the Federal Government of the United Arab Emirates (“UAE”) enacted Federal Decree-Law No. 26 of 2024, titled “Repealing Certain Federal Laws” (the “Law”). This decree includes a notable repeal of Federal Law No. 17 of 2004 on Combating Commercial Concealment, commonly known as the “Fronting Law.” The Fronting Law, initially implemented… Continue reading Repeal of anti-fronting law: The UAE continues to optimize its reputation as an investor friendly destination...
Public Clarification on Grace Period for Updating Tax Records: Key Points for Compliance The Federal Tax Authority (FTA) has recently issued Public Clarification TAXP007, introducing a grace period for updating tax records. This grace period is part of the FTA’s ongoing efforts to promote tax compliance and alleviate administrative burdens on registrants. The clarification outlines… Continue reading Key insights on FTA’s grace period for tax record updates: Essential compliance guidelines...