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Posted on 19/10/2017

Is income tax coming to the UAE? And what will happen if it does?

According to Undersecretary of MoF Younis Haji Al Khoori, the UAE Ministry of Finance announced on Tuesday that it was still in the process of preparing the executive regulation of VAT, in coordination with the concerned authorities. The Emirates News …
( read original story …)


Posted on 19/10/2017

UAE yet to determine VAT rates on goods

The UAE government is still in the process of preparing the executive regulation for value-added tax (VAT) and the rates on supply of goods and/or services and exports are yet to be determined, said a top Ministry of Finance official. The UAE MoF is …
( read original story …)


Posted on 19/10/2017

Taxation is Coming to the Tax Free United Arab Emirates: Dubai

Products covered by the new regulations include cigarettes and alcohol. Moreover, the UAE Ministry of Finance had also announced that a Value Added Tax on non-essential goods will take effect in January 2018. The implementation rate will be at 5 percent …
( read original story …)


Posted on 19/10/2017

No VAT on sale and purchase of shares in UAE

On Tuesday, Dubai Financial Market saw 451.2 million shares changing hands worth Dh525.2 million. Abu Dhabi Securities Exchange witnessed 62.8 million shares trading worth Dh100.6 million. As part of the wider Gulf Cooperation Council agreement …
( read original story …)


Posted on 19/10/2017

The Debt Panel: ‘I left the UAE without paying Dh170,000 in loans but the banks won’t help me return’

On this panel this week: Kunal Malani, head of customer value management, UAE and Mena at HSBC Middle East; Keren Bobker, an independent financial adviser with Holborn Assets and Michael Routledge, the founder of the debt advice site savememoney.ae.
( read original story …)


Posted on 19/10/2017

Dubai Financial Market : Deyaar’s stock hits highest level in 3M early Tuesday

Dubai – Mubasher: Deyaar Development’s stock on Tuesday registered its highest level in three months, or since 20 July’s trading session by 11:00 am UAE time. The stock rose 1.12% to AED 0.541 after 23.68 million shares were exchanged, through 188 …
( read original story …)


Posted on 19/10/2017

Dubai Financial Market : Mashreq Bank’s stock inches up 0.14% on DFM early Tuesday

Dubai – Mubasher: Mashreq Bank’s stock increased 0.14% to reach AED 74, after 22,560 shares were exchanged, through two transactions, with a turnover of AED 1.66 million on the Dubai Financial Market (DFM) on Tuesday by 11:15 am UAE time. The stock of …
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Posted on 19/10/2017

Victorian Trystan Sammut competes in WorldSkills in Abu Dhabi

The 20-year-old Victorian has to be millimetre perfect, with any discrepancy costing him points at this week’s “tradie Olympics” in Abu Dhabi. The gruelling competition challenged brickies to build a model house exterior, fireplace with hearth and a …
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Posted on 18/10/2017

Dubai Introduces The World’s Largest Solar Park

Government of Dubai approved a 700-MW extension to the Mohammed bin Rashid Al Maktoum Solar Park. It will give additional capacity of 5,000 MW by 2030, with a 260-m solar tower to take center stage. The solar park sits around 50 km south of Dubai and its …
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Posted on 18/10/2017

Nesma Telecom to Introduce Digital Telecom Towers in the UAE

Nesma Telecom & Technology, a subsidiary of Saudi Arabia-based multinational conglomerate Nesma Holding, has revealed its plans to foray into the UAE market with digital telecom towers that can carry the devices of more than one GSM operator. Nesma Telecom …
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Posted on 18/10/2017

Sheikh Mohammed launches UAE Artificial Intelligence strategy

With a Robocop patrolling the city’s malls, drones monitoring the streets and ample machines in place to make services quicker and more efficient, it’s safe to say that Dubai well and truly loves technology. So much so, that His Highness Sheikh …
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Posted on 18/10/2017

UAE MoF issues statement on VAT regulations

The UAE MoF is committed to working with the highest levels of transparency and disclosure principles, and will collaborate with the Federal Tax Authority upon issuing the executive regulation. Al Khoori stressed that the Ministry’s website and that …
( read original story …)


Posted on 18/10/2017

Lawyers report low take-up of UAE bankruptcy law

The UAE’s long-awaited bankruptcy law has yet to be applied … It provides traders with three options when in financial crisis – restructuring, preventative composition and (declaring) bankruptcy. However, it does not decriminalise bounced cheques …
( read original story …)


Posted on 18/10/2017

VAT items ‘yet to be determined’, says UAE finance ministry

Tax rates on goods and services are yet to be formally set, the UAE Ministry of Finance has said, ahead of the planned introduction of VAT on January 1. Undersecretary Younis Haji Al Khoori said the ministry is still in the process of preparing the …
( read original story …)


Posted on 18/10/2017

Smart benches at Dubai Police stations

Dubai: Visitors can charge their mobile phones and use high speed internet by using smart benches installed in front of six Dubai police stations, an official said on Wednesday. Lieutenant Colonel Shaikh Mohammad Abdullah Al Mulla, Director of Total …
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Posted on 18/10/2017

Vinokourov feigns surprise after Aru signs with UAE Team Emirates

Astana team manager Alexander Vinokourov has feigned surprise and disappointment after UAE Team Emirates announced it had signed … He was asked regularly for his news but never answered,” Vinokourov said, according to L’Equipe.
( read original story …)


Posted on 18/10/2017

UAE developer reveals plan for $6.8bn Dubai mega project

Subscribe to Arabian Business’ newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.
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