Amendment to UAE commercial companies law

Background Federal Law by Decree No. 26 of 2020 (the Amendment Law or AL), published in the official gazette in September 2020 introduces a number of substantial changes to the Federal Law 2 of 2015 concerning Commercial Companies in UAE (Commercial Companies Law or CCL). The changes not only affect the foreign ownership rule, but…

UAE Value Added Tax (VAT): Update

VAT Public Clarification on “VAT – free” special offers (VATP020) The UAE Federal Tax Authority (FTA) has published VAT Public Clarification on promotional goods/services that are often marketed as ‘VAT-free’ special offers. Summary Many retailers are advertising their products with an offer such as “VAT-free”. Referring to such “VAT-free” special offers is misleading and contrary…