UAE to introduce 9% corporate tax on business profits in 2023.

The Finance Ministry announced on Monday, but kept a low base to maintain its attractiveness for businesses. The new regime implies a standard statutory tax rate of 9%, as well as a 0% rate for taxable profits up to 375,000 dirhams ($102,107.50) in order to support small businesses and startups. The legislation has yet to be […]

New Labour Law of UAE will be effective from 2nd of February 2022.

The United Arab Emirates (UAE) has issued Federal Law No. 33 of 2021 (the New Labor Law), which will take effect Feb. 2, 2022, and will repeal UAE Federal Law No. 8 of 1980 (the Current Labor Law). The UAE is continuing to advance its laws and procedures to facilitate business and enhance the competitiveness […]

Decriminalisation of bounced cheques in the UAE.

From January 2, 2022, a new law came into effect in the UAE, which decriminalised cases of bounced cheques – with a few notable exceptions – thus amending a previous law, which stipulated that anyone who issues a cheque which is not honoured can face criminal proceedings. The law – Federal Decree Law No. (14) […]