UAE: Tax Compliance Service for Small Enterprises Introduced

Albayan, 9 February 2023: The UAE’s Federal Tax Authority (FTA) will launch the “Mowafaq Package” initiative to facilitate tax compliance for small and medium enterprises in the current year.

The authority has concluded a joint cooperation agreement with “Etisalat from &e” to provide facilities and privileges within the initiative’s framework.

The agreement has been signed by the Federal Tax Authority’s Director General and the Senior Vice President of the Government Institutions Sector at “Etisalat from &e”.

It aims to enhance joint cooperation between the parties, especially on supporting small and medium-sized companies.

It also aims to encourage tax compliance.

According to the agreement, “Etisalat from e&” will provide a support package to encourage those registered in the “Mowafaq Package” to comply.

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UAE: Fines Announced for Private Companies That Fail to Meet Emiratisation Target

Khaleej Times, 7 February 2023: Firms which do not achieve the one per cent Emiratisation target by 1 July 2023 will be fined 7,000 AED for each UAE national who has not been hired.

Firms are now required to increase the number of Emirati employees in skilled roles by one per cent every six months.

Based on the amended scheme, penalties for private companies that fail to meet Emiratisation targets will now be imposed semi-annually.

Non-compliant companies will be charged starting from 1 July 2023. Penalties for non-compliance in 2022 will also continue to be collected.

The overall two percent target must be reached by the end of the year.

The amendments do not include any additional requirements or penalties.

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Meet the ground-breaking women shortlisted for the 2023 LexisNexis Women in Law Awards!

The wait is over! We’re thrilled to unveil the highly anticipated shortlist for the 2023 LexisNexis Women in Law Awards in the GCC, brought to you by LexisNexis Middle East and sponsored by Yungo Legal Consultants and DLA Piper.

Over 150 women – trailblazers in the legal industry – stepped up to the challenge and submitted entries across 17 categories of law practice. The women who submitted entries deserve a round of applause, as their participation is what has made these awards a true success from the start.

You can view the shortlisted candidates here.

Don’t miss your chance to be a part of this momentous occasion as we honour the winners at the star-studded gala dinner and awards ceremony at the Ritz-Carton, JBR in Dubai, United Arab Emirates, on 2 March 2023.

Book your seats or table now to show your support for women’s achievements in the GCC!

UAE: Ministry Issues Decision Regulating Trade of Recycled Plastic Water Bottles

Khaleej Times, 18 January 2023: UAE’s Ministry of Industry and Advanced Technology (MoIAT) has issued a ministerial decision regulating the trade of recycled plastic water bottles in line with top public health and food safety standards.

The new decision, which was announced at Abu Dhabi Sustainability Week (ADSW) 2023 allows the use of recycled polyethylene terephthalate (rPET) produced at MoIAT-approved recycling facilities that have obtained a certificate of conformity as per the UAE Regulation for Control on Food Contact Material.

The Under-Secretary of MoIAT has stated that the new decision aligns with the ministry’s strategic objectives to enhance quality infrastructure and the industrial sector’s contribution to the national economy. This is projected to reduce carbon emissions, enhance the national in-country value by 80 – 300 million Dh annually, and create jobs.

Representatives of the National Food Safety Committee, UAE’s Food and Beverage Manufacturers Group, food and recycling experts and researchers were consulted to ensure the containers were safe to use as water bottles.

The decision Recycling facilities must provide documents proving their adoption of an effective quality control system and good manufacturing practices for materials that come into contact with food.

These include a report from an accredited lab in the UAE testifying that the recycled product has passed a safety test and a report indicating the compliance of the bottled water with health and safety requirements.

They must also do migration tests for packaging materials in accordance with applicable technical regulations and obtain a risk assessment report for the quality and safety of the recycled raw materials intended for use when bottling drinking water.

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UAE: Small Companies to Remain Exempt from Emiratisation Targets

According to the Minister of Human Resources and Emiratisation, the UAE has no plans to make smaller companies follow Emiratisation targets.

As tens of thousands of Emiratis have been successfully placed in new private-sector jobs following the issue of Ministerial Decision No. 279/2022, which brought in new Emiratisation targets for the private sector. However, the Minister of Human Resources and Emiratisation has said this policy would not be changed to include companies with fewer than 50 skilled employees.

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UAE: Federal Decree-Law Establishes Media National Office

Albayan, 17 January 2023: UAE’s President has issued Federal Decree No. 7/2020, Establishing the Media Office of the UAE Government.

The established office will have the administrative and financial independence necessary to achieve its objectives and competencies and report to the Presidency Bureau Minister. In addition, this office aims to develop the state’s media system to support the national interest and strengthen coordination and cooperation between the different media authorities in the state.

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DLA Piper Participates as a Sponsor at the LexisNexis Women in Law Awards 2023

LexisNexis Middle East are pleased to announce that DLA Piper will participate as a Bronze Sponsor at the LexisNexis Women in Law Awards 2023 on 2 March 2023.

The Women in Law Awards aim to celebrate women’s accomplishments and innovation in the legal field in the Middle East region. The Awards also set out to recognise the organisations that promote women and gender equality in their teams.

We hope you will join us for this fantastic event on 2 March 2023! Visit the LexisNexis Women in Law Awards website to learn more about the event!

Dubai: Tribunal Upholds Decision Against Abraaj Founder, Including Largest Ever Fine

3 January 2023: The Financial Markets Tribunal (FMT) has upheld a decision by the Dubai Financial Services Authority (DFSA) against the founder of the Abraaj Group, including its most significant ever fine for an individual of US$135m.

Abraaj Group was fined almost US$3m in 2019 for its misconduct of misleading or deceiving investors and carrying on unauthorised financial service activities in or from the Dubai International Financial Centre (DIFC).

The DFSA ruled against the company’s founder after it found he had personally proposed, orchestrated, authorised, and executed actions that directly or indirectly misled or deceived the investors. In upholding the ruling, the FMT said that ‘the US$135m penalty is unusually high, but the remuneration that Mr Naqvi received was high amidst conduct that was exceptionally serious and the cause of what appears to have been unprecedented harm to the entire community of the DIFC’.

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