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Sunday 6 January 2019


 06/01/2019

Khaleej Times

The Federal Tax Authority (FTA) on Saturday announced that the number of businesses registered for value-added tax (VAT) exceeded 296,000 while 650,000 VAT returns were submitted in 2018. Highlighting the results of the first year of imposition of VAT, it said 7,200 retail shops took part in the tourist refund scheme, with over 5,000 transactions being processed on average per day.

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Emirates News Agency (WAM)

Khalid Ali Al Bustani, Director General of the Federal Tax Authority (FTA), asserted that in the first year of implementing Value Added Tax (VAT) in the UAE, the Authority registered many successes from deploying easy-to-use, hi-tech electronic systems to ensuring high compliance rates among businesses across the country. The VAT system has been praised by experts and local, regional and international official bodies, he added, noting that despite the challenges that were expected at the beginning of implementation – which was a common occurrence in many countries that introduced VAT around the world – the UAE successfully rolled out a seamless and flexible tax system, complete with a progressive legislative environment that meets the highest standards in the field.

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Gulf Today

Racing at Meydan on Saturday, a seven-race card which starts at 4pm, is highlighted by three Dhs190,000 handicaps, of which two are on turf, including the 2000m finale (District One Crystal Lagoon Trophy). Topping the maximum field of 16 is Dubai World Cup Carnival aspirant Key Bid, who exits a resounding victory on dirt over 2000m. Trained by Ali Rashid Al Rayhi for Sheikh Rashid Bin Humaid Al Nuaimi, the 5-year-old Dubawi gelding has an official rating of 92, so is eligible for the dirt races at the Carnival, but needs to reach 95 to qualify for the turf options.

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Khaleej Times

The UAE continued to generate new jobs during most of 2018 with Dubai emerging the brightest spot in the country's employment market. According to data from the Central Bank of the UAE, employment eased in the third quarter, growing moderately by 0.6 per cent compared to an increase of 1.2 per cent in the second quarter. Accordingly, employment rose by 1.6 per cent during the first three quarters on average, compared to a 2.6 per cent increase during the same period in 2017.

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Arabian Business

In the past two years, we have seen the UAE vigorously develop its legislation. There was the enactment of the long awaited companies law and bankruptcy law, though the latter has not been used as much as most hoped it would be. In 2018 alone, we witnessed significant amendments in laws and regulations dealing with residency, allowing, for the first time in the history of the UAE, long-term residency for expats in certain criteria​

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Page last updated : 16/01/2019 1:36 PM