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New draft commercial agency law

New draft commercial agency law

New draft commercial agency law to allow public joint-stock companies with at least 51% of national capital contribution to act as commercial agents: Minister of Economy ABU DHABI, 29th June, 2022 (WAM) — Abdullah bin Touq Al Marri, Minister of Economy, said the new draft federal law on the regulation of commercial agencies allows public […]

New Law on Federal Tax Authority (FTA)

New Law on Federal Tax Authority (FTA)

On 20 June 2022, the UAE Federal Tax Authority (FTA) released a new Public Clarification (Ref. EXTP007) outlining the process of notifying the FTA in cases of deficiency or destruction of excisable goods within a Designated Zone (DZ), and the required process of receiving the approval of Excise Tax relief subject to meeting certain conditions. […]

Legislation and regulatory authorities for cryptocurrencies in the UAE

Legislation and regulatory authorities for cryptocurrencies in the UAE

Cryptocurrencies and blockchain projects in the UAE are regulated by FSRA (Financial Services Regulatory Authority) in relation to ADGM (Abu Dhabi Global Market). This authority publishes guidance on cryptocurrencies. It also monitors blockchain business to ensure transparency as well as to prevent money laundering and terrorist financing. Other bodies that may contribute to the regulation […]

Restaurant in Al Ain closed for non-compliance with sanitary norms

Restaurant in Al Ain closed for non-compliance with sanitary norms

Taj Al Manar restaurant, located in Al-Khayer district of Al-Ain, has been closed by the Abu Dhabi Agriculture and Food Safety Authority (Adafsa) for endangering public health. Officials said the closure was due to repeated violations of conditions and requirements related to health and food safety. Three high-risk violation notices were issued to the establishment […]

Fuel price hike in UAE

Fuel price hike in UAE

The UAE Committee on Fuel Prices has announced a price increase for gasoline and diesel in June 2022.The new gasoline and diesel prices will be effective at UAE petrol stations starting June 1, 2022.As of June 1, Super 98 gasoline will cost AED 4.15 per liter compared to AED 3.66 per liter in May.Special 95 […]

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UAE: Fines of up to AED 500,000 for online blackmail and threats

UAE: Fines of up to AED 500,000 for online blackmail and threats

The UAE prosecutor’s office has announced a minimum fine of 250,000 dirhams and a maximum fine of 500,000 dirhams for threatening or blackmailing someone online.Violators will also be sentenced to no more than two years in prison. In a social media post, the prosecutor’s office said the penalties are aimed at combating electronic crime and […]

How to become the richest central bank client

How to become the richest central bank client

A 25-year-old Nigerian migrant became a millionaire in two months and the UAE Central Bank’s largest account holder Aakil came to the UAE in search of a prestigious job. However, he fell during the Covid-19 pandemic, when all the big companies stopped hiring for a while. Aakil had to take a job with a cab […]

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UAE law: E-cigarette smoking

UAE law: E-cigarette smoking

E-cigarette smoking not allowed in offices, closed spacesThe health ministry has also blocked websites that advertise and promote e-tobacco products Smoking e-cigarettes is prohibited inside offices and closed spaces across the UAE, the health ministry has confirmed. The use of e-cigarettes is subject to the federal law on tobacco control.According to the UAE government website, […]

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Dubai starts issuing permits for scooter driving

Dubai starts issuing permits for scooter driving

Authorities in Dubai are beginning to process permits for the use of electric scooters.Dubai Roads and Transport Authority has started accepting online applications for permits for the use of electric scooters in the emirate.To obtain the permits, you need to familiarize yourself with the rules of driving and road safety. Persons at least 16 years […]

Sharjah decided to sell abandoned cars

Sharjah decided to sell abandoned cars

The municipality of Sharjah plans to sell hundreds of impounded vehicles abandoned by their owners in a public auction. Car owners have until April 30 to collect their vehicles, if not – they will be put up for auction.As it was specified in the municipality, we are talking about more than 440 cars that were […]