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02 Nov 2020

Customs Notice Number 17/2020: Procedures for Clearance of Goods Consumed within Free zones

Customs Notice Number 17/2020: Procedures for Clearance of Goods Consumed within Free zones Dubai Customs issued a Customs Notice on the 22nd of October, 2020 which aims to facilitate customs procedures. It aims to regulate the free zone business activities in regards to goods that are consumed or used therein.…

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01 Nov 2020

UAE approves Cabinet Resolution amending Federal Law No. 18/1993 regarding Dishonoured cheques

UAE approves Cabinet Resolution amending Federal Law No. 18/1993 regarding Dishonoured cheques A cabinet resolution amending certain provisions of Federal Law No. 18/1993 promulgating the UAE Commercial Code, ('the Resolution') was approved by the UAE Cabinet on 26 October 2020. The changes adopted by the Resolution, which will come into…

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28 Oct 2020

Cabinet Resolution Number 57of 2020 concerning Economic Substance Regulations (the “ESR”)

Cabinet Resolution Number 57of 2020 concerning Economic Substance Regulations (the “ESR”) The UAE Cabinet issued a new resolution concerning Economic Substance Regulations. This resolution aims to replace the old Regulations, making it redundant.  On 23rd September, 2020, the Ministry of Finance (MoF) announced the details of the Cabinet Resolution in…

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27 Oct 2020

Amendments to Federal Law No. 9 of 2016, UAE’s Bankruptcy Law

Amendments to Federal Law No. 9 of 2016, UAE’s Bankruptcy Law The UAE Cabinet approved amendments to the UAE Federal Law No. 9 of 2016 on 21 October 2020, also known as the Bankruptcy Law. These changes are aimed at alleviating the financial hardship caused by the COVID-19 pandemic and…

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25 Oct 2020

Oman’s VAT Law

Royal Decree Number 121/2020: Oman’s VAT Law The Sultanate of Oman is all set to implement its VAT regime, with effect from 1st April 2021. This makes Oman the fourth GCC country to introduce VAT, following UAE, the Kingdom of Saudi Arabia and Bahrain, as per the GCC VAT agreement that was…

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22 Oct 2020

UAE amends Labour Law to provide for Paternity Leave and Equal Pay

UAE amends Labour Law to provide for Paternity Leave and Equal Pay The President of the UAE promulgated the Federal Decree-Law No. 6 of 2020 (the Decree) which amends Federal Law No. 8 of 1980 on the Regulation of Labour Relations (as amended), also known as the UAE Labour Law…

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