UAE: Income Tax is Not Going to be Introduced

Arabian Business, 21 February 2022: The UAE’s Minister of State for Foreign Trade and Minister in charge of Talent Attraction and Retention has announced an income tax is not going to be introduced.

They said the idea is not being discussed at all.

They made the announcement just weeks after the authorities announced a general corporation tax was going to be introduced.

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UAE: National Crypto Licencing on the Way

Arab News, 17 February 2022: According to media reports, the UAE authorities are preparing to issue federal licences to Virtual Asset Service Providers by the end of the first quarter of this year.

They will be issued to attract key players in this field to the country.

The Securities and Commodities Authority is in the final stages of amending legislation to allow Virtual Asset Service Providers to set up.

They will be responsible for regulatory oversight of these companies but will work with the country’s Central Bank.

Local financial centres will be able to establish their own day-to-day licensing procedures.

To view more news items and other content we have available, visit lexis.ae/demo to book a demo and start your free trial of Lexis® Middle East.

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UAE: Conditions for Employing Children Announced

Alroeya, 14 February 2022: The UAE’s Human Resources and Emiratisation Ministry has announced the conditions for the employment of children.

Under Federal Decree-Law No. 33/2021, the employment of children is banned.

Work permits are not granted to any Emirati or an expatriate resident who are considered a minor.

The Law allows minors aged between 15 and 18 to work, provided there is an official work permit from the Ministry.

Employers wanting to employ children between 15 and 18 must have the written consent of the minor’s guardian, or the individual who has the guardianship.

They also must have a certificate of medical fitness for the work which has been issued by the relevant medical authorities.

In addition, children must not be employed from 7pm to 7am.

Children must also not be employed in industrial projects or in dangerous or harmful work.

They should work more than six hours a day and they should have one or more breaks.

They must not be assigned additional working hours or kept in work after their scheduled hours and must not work on rest days. For full story, click here.

To view more news items and other content we have available, visit lexis.ae/demo to book a demo and start your free trial of Lexis® Middle East.

Want to learn more about Lexis® Middle East? Visit, https://www.lexis.ae/lexis-middle-east-law/.

Phoenix Advisors Ltd participates as a sponsor at the LexisNexis Women in Law Awards

LexisNexis Middle East are pleased to announce that Phoenix Advisors Ltd will be participating as an Awards Sponsor at the first LexisNexis Women in Law Awards being held on 23 February 2022.

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 amazing event on 23 February 2022 at the Westin Dubai Mina Seyahi Beach Resort & Marina, UAE. For more information, visit: https://www.lexisnexis-womeninlaw.com/.

DLA Piper participates as a sponsor at the LexisNexis Women in Law Awards

LexisNexis Middle East are pleased to announce that DLA Piper will be participating as an Awards Sponsor at the first LexisNexis Women in Law Awards being held on 23 February 2022.

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 amazing event on 23 February 2022 at the Westin Dubai Mina Seyahi Beach Resort & Marina, UAE. For more information, visit the LexisNexis Women in Law Awards website.

UAE: Corporation Tax Returns Must be Submitted Annually

Emaratalyoum, 3 February 2022: The UAE’s Finance Ministry has confirmed businesses who have to pay corporation tax must submit their tax returns annually.

Only one tax return is required for each financial period and businesses will not be required to submit temporary tax returns or pay taxes in advance.

The tax returns must be submitted electronically and companies which don’t comply will be fined.

For full story, click here.

To view more news items and other content we have available, visit lexis.ae/demo to book a demo and start your free trial of Lexis® Middle East.

Want to learn more about Lexis® Middle East? Visit, https://www.lexis.ae/lexis-middle-east-law/.

UAE: New Labour Law to Come into Force

Alroeya, 30 January 2022: The UAE’s Human Resources and Emiratisation Ministry has announced the Labour Law, Federal Decree-Law No. 33/2021 on regulating the work relationships will be implemented from 2 February 2022.

The Law was introduced to respond to changes in the labour market. It aims to boost the flexibility and sustainability of the labour market by protecting the rights of employees and employers. It provides various workflows to facilitate businesses, competition and the productivity of the labour market.

For full story, click here.

To view more news items and other content we have available, visit lexis.ae/demo to book a demo and start your free trial of Lexis® Middle East.

Want to learn more about Lexis® Middle East? Visit, https://www.lexis.ae/lexis-middle-east-law/.

UAE: Corporation Tax on Business Profits on the Way

Gulf News (United Arab Emirates), 31 January 2022: The UAE’s Finance Ministry has announced it is going to introduce a corporation tax on business profits.

It will be levied at 9%.

There will also be a 0% tax rate for taxable profits up to 375,000 AED. This will help small businesses and startups.

It will apply for financial years from 1 June 2023.

To view more news items and other content we have available, visit lexis.ae/demo to book a demo and start your free trial of Lexis® Middle East.

Want to learn more about Lexis® Middle East? Visit, https://www.lexis.ae/lexis-middle-east-law/.

The shortlists for the LexisNexis Women in Law Awards are in!

LexisNexis Middle East is pleased to announce the shortlists for the first Women in Law Awards in the GCC.

Sponsored by Yungo Legal Consultants, New York University (NYU) Abu Dhabi, Al Tamimi & Company and HFW Middle East, the Women in Law awards celebrate women’s achievements in legal practice in the GCC.

Over 150 women – all legal practitioners or otherwise active in the legal industry in the GCC – entered for an award in 20 different categories of law practice. You can view the shortlisted candidates here.

LexisNexis Middle East thanks all the women who submitted an entry, their participation is what has made these awards a success from the start.

The winners in each category will be announced at a gala dinner and awards ceremony at the Westin Dubai Mina Seyahi Beach Resort and Marina in Dubai on 23 February 2022.

Join us as we celebrate women’s achievements in the GCC! Book your seats or table here.

UAE: Penalties for Drone Ban Violation Announced

Arab News, 26 January 2022: The UAE’s Public Prosecution have announced the fines which will be imposed on those who violate the ban on drones.

They will be fined at least $27,225 and jailed for between six months and five years.

The ban was announced earlier this week.

To view more news items and other content we have available, visit lexis.ae/demo to book a demo and start your free trial of Lexis® Middle East.

Want to learn more about Lexis® Middle East? Visit, https://www.lexis.ae/lexis-middle-east-law/.