United Arab Emirates Archives - Page 44 of 67

Abu Dhabi: Fire Safety Fine Reminder

26/07/202326/07/2023
by Tanya Jain

Khaleej Times, 25 July 2023: The Abu Dhabi Civil Defence Authority has issued an advisory notice reminding residents and property owners of fire safety requirements.

There are stringent rules in Abu Dhabi on fire safety which include ensuring that detectors and firefighting systems are always in good condition. The authority has stated that along with installing these devices residents and property owners need to ensure they have a maintainance contract in place for this equipment.

A fine of 10,000 AED is imposed where there is no valid maintenance contract by a contractor approved by the Civil Defence Authority for fire alarm systems and devices, fire fighting systems and equipment. These requirements are specified in Cabinet Decision No. 24/2012 On Regulation of Civil Defence Services in the State.

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News developments

UAE: Controls for Annual Leave Entitlement Announced

20/07/202320/07/2023
by Tanya Jain

Emaratalyoum, 14 July 2023: The Federal Authority for Government Human Resources has confirmed employees appointed in any of the ministries or government agencies, working full-time, are entitled to an annual leave with a total salary, which amounts to approximately 30 working days or 22 days, depending on their grade.

If it is necessary for the employee’s work interests, the head of the federal entity may summon them back from their annual leave.

In such cases, the remaining days of leave will be transferred to the employee following the approved procedures. Federal Decree-Law No. 11/2008 on the Human Resources in the Federal Government.

These include instances where the employee is on study leave or an educational assignment during the requested year of leave, as well as periods of absence from work without salary. Additionally, an employee cannot request annual leave for the duration they spend in prison as a result of a judicial ruling (unless termination of service is decided), and finally, during the probationary period, if the employee’s service ends for any reason.

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News developments

Dubai: Guide on Family Business Governance Issued

20/07/202320/07/2023
by Tanya Jain

Albayan, 11 July 2023: In line with the directives of the Dubai Ruler to develop a comprehensive system which aids family businesses, the Dubai Centre for Family Businesses has released a guide to assist these businesses in creating and implementing the necessary governance frameworks.

The objective is to ensure a smooth transition of leadership and the continuity of operations. This guide draws upon the best international practices while considering the local context of the Emirate.

It emphasises the importance and role of the Family Constitution, also referred to as the Family Accord or Family Protocol. Moreover, it offers practical advice and tools to support families in establishing effective governance practices within their businesses.

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News developments

UAE: Fiscal Year for Education Organisations Determined

12/07/202312/07/2023
by Tanya Jain

Alkhaleej, 6 July 2023: For the majority of companies in the UAE, the fiscal year for the application of Company Tax commences on 1 January each year. However, in the education sector, the fiscal year begins in September, aligning with the start of the new academic year.

According to this legislation, a 9 per cent tax is imposed on any income exceeding 375 AED, while income below this threshold is taxed at 0 per cent.

The law came into effect on 1 June 2023 and will be implemented at the start of each new fiscal year across various sectors.

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News developments

Dubai: Controls for Refunding VAT to Tourists Announced

12/07/202312/07/2023
by Tanya Jain

Alkhaleej, 5 July 2023: The digital government of the UAE has set certain conditions and mechanisms that qualify tourists visiting the UAE to recover the value-added tax on their purchases upon leaving the country.

Tourists can get 85 per cent of the total amount of value-added tax that they paid, from which 4.80 dirhams are deducted as a fee for each “Tax Free” mark.

The conditions that qualify tourists to recover the value-added tax and the mechanism for claiming its refund include that the value cannot be refunded on any goods that are consumed in whole or in part in the country, and goods that the tourist does not take with him when leaving the country, and that the age of the tourist must not be less than 18 years.

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News developments

Abu Dhabi: Regulatory Framework for Sustainable Financing Implemented

12/07/202312/07/2023
by Tanya Jain

Albayan, 5 July 2023: The Abu Dhabi Global Market Authority has announced the implementation of a regulatory framework for sustainable financing. The aim is to establish the market as a leading center for sustainable financing and create a conducive local environment for such activities.

The new framework covers investment funds which focus on sustainability, managed portfolios, and bonds. It also outlines disclosure requirements for environmental and social practices, as well as governance for companies registered in the market.

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News developments

UAE: Investment Ministry to be Established

05/07/202305/07/2023
by Tanya Jain

A new ministry is to be established in the UAE to develop the country’s investment vision, stimulate the investment environment internally, and enhance competitiveness

The new investment ministry will be headed by Mohamed Hassan Alsuwaidi. It will develop the country’s investment vision, boost prospects and enhance procedures and legislation in this area.

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News developments

UAE: Final Deadline to Achieve Emiratisation Objectives Extended

22/06/202322/06/2023
by Tanya Jain

Alwatan, 13 June 2023: The UAE’s Ministry of Human Resources and Emiratisation has announced an extension of the deadline for private sector companies to achieve their midyear Emiratisation objectives.

The new deadline has been set for 7 July 2023.

Previously, companies in the private sector with 50 or more employees were required to meet these objectives by 30 June 2023. However, considering this deadline coincides with Eid, it has been extended to allow for sufficient time.

Starting from 8 July 2023, the Ministry will begin assessing the commitments of the relevant companies as outlined in the decision issued by the Council of Ministers. This extension provides private sector companies with additional time to work towards fulfilling their Emiratisation objectives and further promotes the goals of national workforce development and employment opportunities.

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News developments

Dubai: Initiative to Facilitate Establishment of Digital Companies Launched

22/06/202322/06/2023
by Tanya Jain

Emaratalyoum, 13 June 2023: The Dubai Digital Economy Chamber has recently announced a new initiative aimed at enhancing and streamlining the establishment of digital companies in Dubai. The initiative also seeks to provide a range of new services to support technology companies, emerging businesses, and small to medium-sized multinational enterprises looking to launch their operations in Dubai.

As part of this initiative, the Chamber has signed a memorandum of agreements with several companies and establishments which will exclusively offer discounted rates and special offers to participants in the program. These services encompass licensing services, banking solutions, office spaces, and cloud services.

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News developments

Sharjah: Social Services Department Regulatory Law Amended

14/06/202314/06/2023
by Tanya Jain

Alwatan, 12 June 2023: The Sharjah Advisory Board has approved an amendment to Sharjah Law on Regulating the Social Services Department.

The draft law aims at keeping up with the developments in the Emirate and aims at improving social life.

Based on the law, the Department will be able to enhance its participation in public awareness campaigns, bolstering social values, and encouraging social integration.

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