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 ...)

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 ...)

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 ...)

UAE Oil Giant Seeks Partnership For Possible IPO

Even though the UAE’s oil firm ADNOC is seeking partnerships and exploring a possible IPO of minority stakes in some of its services units, at the holding company level ADNOC will remain wholly owned by the Abu Dhabi Government, ADNOC group CEO Sultan ... ( read original story ...)

Former Goldman executive is raising money for quant hedge fund

Dubai: Ronald Hua, a former Goldman Sachs Group Inc. executive ... The duo is raising money as more hedge funds and asset managers start quantitative strategies to adapt to a challenging environment for stock pickers. Active managers are trying to find ... ( read original story ...)

UAE’s finance ministry yet to fix VAT rate on goods, services

The UAE’s Ministry of Finance is still in the process of fixing the value added tax (VAT) rates for goods and services, it announced on Monday. The ministry is currently developing the executive regulations of VAT, said Younis Haji Al Khouri, under ... ( read original story ...)

UAE Food Bank opens 2nd location in Dubai

The second operational site of the UAE Food Bank was launched on Monday at Al Bada area near Canadian University under the patronage of Easa Saleh Al Gurg Charity Foundation. The UAE Food Bank also signed cooperation agreements with three other charity ... ( read original story ...)