Executive Summary of EU GDPR: 10 Action Points for Compliance
The General Data Protection Regulation (GDPR) has been all over the news recently, and concerns all European Citizens whether based in Europe or not. As the GDPR day fast approaches this Friday, May 25th, all companies of all sizes will have to make sure they are ready for the new regulations. Personal data deserves …
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UPDATE: FTA Clarifies the VAT Treatment of Compensation Payments
The Federal Tax Authority (FTA) has recently published a clarification on VAT treatment of compensation type payments. Our Associate, Sarra Alsamarrai summarized the examples of situations where the compensation payments may or may not give rise to a "supply" for a taxable purpose.
8 Essential Issues to Consider Before Signing your Sale and Purchase Agreement – Dubai Property La
In the Dubai real estate market, whether you are a buyer or a seller, navigating the whole process may seem like a daunting task. But a proper checklist can help you ensure a smooth entry into the property market. Our Associate, Sarra Alsamarrai in the below article, highlighted the top eight considerations purchasers need to …
UPDATE: New Foreign Direct Investments Law
The game-changing UAE investment law, which is expected to change nation's business landscape by attracting increased foreign direct investments, has come into effect. In the below article, our Associate Sarra Alsamarrai highlighted the main provisions of the FDI Law as it currently stands.
Update: Ministerial Decision for Part-Time Contract Workers in the UAE
Part-time jobs are still a subject of doubt for many UAE residents. Our Associate, Sarra Alsamarrai highlighted some of the key considerations of the Ministerial Resolution which allows part-time work in the UAE to be conducted without the approval of an employee’s sponsor. Click on the link below to read the full article.
Demystifying The Financial Regulatory Landscape In The UAE
Navigating the financial regulatory landscape of a country can be daunting. The myriad of regulators and regulations can make you feel stuck in a grey area – not a comfortable place for someone who wants black and white. Our Associate, Priyasha Corrie answered some of the most commonly asked questions of the financial regulatory system …
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8 Essential Issues to Consider Before Signing your Sale and Purchase Agreement – Dubai Property La
Purchasing off-plan property has become the new norm, with affordable prices and the increase in incentives being offered, purchasers are quick to jump on the bandwagon. The Dubai Law No. (8) of 2007 On the Matter of Escrow Accounts for Real Estate Development (“Escrow Law”) was issued for the purposes of safeguarding purchaser’s money after …
All You Need to Know About Debt Recovery Procedures in the UAE
According to the 2018 Global Ranking on Debt Collection, UAE is one of the most challenging places in the world for recovering the debt. With this in mind, keeping an eye on your cash-flow and expenditures are more vital than ever! Fichte & Co.’s dedicated Corporate and Litigation teams provide specialized commercial advice both for …
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Overview of the Bankruptcy Proceedings and Preventive Measures in the UAE
Definition of bankruptcy: Legally speaking, bankruptcy is an expression used to describe a legal status in which a natural (individual) or legal (company) person owes a sum of money to third parties and ceases to pay its debts when they fall due because of its troubled financial position and insolvency.
UPDATE: FTA Clarifies the VAT Treatment of Compensation Payments
The Federal Tax Authority (FTA) has recently published a clarification on VAT treatment of compensation type payments, such as payments to settle disputes, and other contractually agreed compensation. Where a payment or fee is not a consideration for a supply, there is no VAT due. Often times, there are penalty clauses or liquidated damages clauses …
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