The Chairman of the General Medical Committee of Dubai, Atef Saleh has confirmed new regulations have been issued to regulate sick leave for public sector employees including maternity leave. Under the regulations, employees who need more than one day of sick leave should submit supporting documents. Saleh confirmed the Committee is using guidelines complied by a number of experts which specifies the necessary sick leave for different medical situations.
Weekly Spotlight: DIFC Courts have launched a specialist division for Technology and Construction (TCD)
This week the spotlight is on developments in the DIFC, where the Dubai International Financial Centre Courts have announced they have launched a specialist division for the region’s technology and construction companies to resolve their most complex commercial disputes. The Technology and Construction Division (TCD) draws on specialist judges and industry-specific rules to fast-track dispute resolution in technically complex cases like complicated engineering disputes or claims arising out of fires. Parties anywhere in the world will be able to opt-in to the Courts’ jurisdiction, if both parties agree in writing. Requests to have claims heard by the Division are made as part of the initial filing, with the Courts’ decision based on the written evidence provided. It will be headed by Justice Sir Richard Field.
The UAE’s Standardisation and Metrology Authority has announced it is considering new rules for gold. The rules are expected to be in force by the end of the year. The rules will cover the trade in and stamping of precious stones and metals. The draft rules are being considered following consultation with the relevant parties.
The UAE’s Federal Tax Authority has announced it will open online excise tax registration for businesses on 17 September. Businesses will be able to register 24 hours a day, 7 days a week. They will have to register via the Authority’s website.
Abu Dhabi’s Economic Development Department has announced it has increased the fines for entities using bogus economic licences. The fines have been increased to 50,000 AED and violators will be blacklisted. The announcement follows the Department intensifying its monitoring of compliance with the regulatory regime.
Dubai’s Financial Services Authority has signed an agreement with Hong Kong’s Securities and Futures Commission to establish a framework for cooperating in FinTech innovation. The agreement was signed for the Authority by its Chief Executive, Ian Johnston and for the Commission by its Chief Executive, Ashley Alder. Under the agreement, both Authorities will share information on FinTech developments and innovations in their respective markets. Both regulators will also refer innovative firms to the other’s markets and provide them with regulatory guidance.
08:00 (UAE time) - 10:30 (UAE time)
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Dubai’s Airport Freezone Authority has released a detailed halal industries guide as part of its campaigns to contribute to the Emirate’s aim to become the region’s Islamic economy capital. The guide is the first of its kind. It defines Halal products in different industries and highlights numerous financial investment possibilities for international financiers.
The UAE’s Federal Tax Authority has announced online VAT registration for businesses will be introduced next month. It follows the issuing of the Tax Procedure Law (Federal Law No. 7/2017) last month. The Excise Tax and VAT Laws are expected to be issued in the third quarter this year and the relevant regulations will be issued in the fourth quarter.
The UAE’s Cabinet has approved new draft child car seat regulations. The approval follows a suggestion from the Emirates Authority for Standardisation and Metrology. It aims to adhere to the highest standards and reduce accidents involving children. Drivers will have to provide child car seats for children under four.