Earlier this year, Dubai’s Crown Prince Sheikh Hamdan bin Mohammad launched 26 projects by 24 government entities of Dubai as part of “Dubai 10X”, aimed to make Dubai the hub of innovation. Under this initiative, DAFZA (Dubai Airport Free Zone Authority) has now announced its plans to start two of these projects, Dubai Blink and…
Modern technology has evolved the world into a global village where people in one part of the world are connected to others not only through communication but also by direct physical contact. It is the reason that any event, disaster or festival in one part of the world has at least some impact on others,…
The 2nd quarter after implementation of value added tax (VAT) is underway and the authorities and experts are closely examining impacts of this newly-implemented tax on various sectors. Previously, this tax was also reviewed on few important sectors that were facing negative effects after VAT. One such example is the reversal of VAT on gold…
The government of UAE is moving rapidly towards a completely change in direction of its economy. The wise rulers of the country are certainly aware that they can only progress in this modern world by using education and technology to its greatest extant. Due to this, the focus is completely on altering the focus of…
UAE has always remained an important country for foreign residents and tourists. Hundreds of thousands of foreigners are residing in different parts (especially Dubai, Abu Dhabi and Sharjah) of UAE while millions visit every year for entertainment, medical, business and other purposes. UAE has long being seen as a business hub and investors are always…
Value added tax (VAT) in UAE is covering most of the sectors in the country. But there are also few exceptions from this newly implemented tax. One such area is the residential homes. Recently, the FTA (Federal Tax Authority) has announced the procedure for UAE nationals through which they can refund VAT for newly constructed…
