The United Arab Emirates (UAE) cabinet has decided to reduce the tax penalties in the region. This decision will encourage companies and individuals to file their taxes and also make voluntary disclosures if a mistake has been made while doing so, according to experts. Mayank Sawhney, managing director at MaxGrowth Consult-ing, said: The reduction in…
DetailsFollowing a difficult year due to the COVID-19 pandemic, Dubai is set to host the highly anticipated Expo 2020 in October 2021 which will run until March 2022. The event is set to attract over 25 million visitors. Expo 2020 is considered to be a universal exhibition that will attract a number of businesses and…
DetailsThe COVID-19 pandemic disrupted every business across the globe and United Arab Emirates (UAE) was no different. However, with the mass vaccinations being rolled out, things are on track to recovery. According to the UAE Minister of Economy, Abdulla Bin Touq Al Marri, the region’s economy fared better than what the initial reports were for…
DetailsIn order to work out how much money does it require to set up a company in the United Arab Emirates (UAE), it is important to first work out the type of company you want to establish, which sector will your company operate in, the location of the business, and finally the need of the…
DetailsThe United Arab Emirates (UAE) has firmly established itself as a business hub, which has raised millions of dollars in investment. The concept of free zones started of very early on and has amassed a lot of traction from foreign investors as well. In 2020, the Ajman Free Zone alone managed to register a whopping…
DetailsMinistry of Economy in the United Arab Emirates (UAE) is bringing new legislation that will be including 10 new sectors to the commercial company law. According to a senior official, they will be able to own 100% foreign ownership of onshore companies within the country. The latest information confirms that the formation of it is…
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