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All posts by: re think
UAE VAT Update – Reconsideration requests service is now available on the e-service portal
The UAE Federal Tax Authority (FTA) recently announced that the Reconsideration requests service is available to the tax registrants on their e-service portal from 19th November 2021. Earlier, the said service was available on the FTA’s website under the “E-from” section. This is a welcomed initiative that will improve the efficiency of the reconsideration process. We […]
HR Update: UAE’s Labour Law revamped 2022
President His Highness Sheikh Khalifa bin Zayed Al Nahyan has issued Federal Decree-Law No 33 of 2021, regulating labour relations which comes into effect from February 2, 2022. The law will apply to all establishments, employers and workers in the country’s private sector. Attracting talent and efficiency forward Dr Abdul Rahman Al Awar, Minister of […]
UAE ESR Update – ADGM and MOF updated FAQs
The Abu Dhabi Global Market (ADGM) and the Ministry of Finance (MOF) have recently updated their dedicated ESR webpages with *new* FAQs sections. Key takeaways from the FAQs sections: Does ESR apply to Foundations and Trusts? Both ADGM and MOF recently confirmed that Trusts and Foundations may fall within scope of ESR should they be […]
Initial Commitment of 1Bn Venture Fund
Under the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance and Chairman of the Dubai Securities and Exchange Higher Committee, […]
by re think
in Compliance, Industry News
Compliance Alert: DFSA unveils regulatory framework for investment tokens
Creating an ecosystem for innovative firms to thrive in the UAE is a key priority, the regulator says The Dubai Financial Services Authority, the regulator of the emirate’s financial centre, the Dubai International Financial Centre, unveiled its regulatory framework overseeing digital assets. The framework reflects the proposed regulations outlined in its consultation paper issued earlier […]
UAE VAT Updates – New Guide on linking TRN with CRN
The UAE Federal Tax Authority (FTA) recently released a guide on linking the Tax Registration Number (TRN) with the Customs Registration Number (CRN). WHAT’S NEW? The guide provides the below two options for linking TRN with CRN. Option 1 VAT registrants can update CRN in its profile on the FTA’s e-service portal. Multiple CRNs can […]
Newsflash: Re/think Snaps ‘Compliance / Regtech Solution’ at WealthBriefing MENA Awards
Last night, Re/think was recognized as the ‘Best Compliance / Regtech Solution Firm MENA’ at the WealthBriefing MENA Awards 2021. It is the second time that the firm is the recipient of the award. The Wealthbriefing awards recognize ‘best of breed’ companies, teams, and individuals in the global private banking, wealth management, and trusted advisor communities. Gail-Johnson Goring, […]
UAE VAT Updates – Amendments to the Tax Procedures Law effective from 1st November 2021
The UAE Cabinet issued Federal Decree-Law No. 28 of 2021 on 16 September 2021 that amends some of the provisions of Federal Law No. 7 of 2017 on Tax Procedures (Tax Procedures Law). The amendments are effective from 1st November 2021. WHAT’S NEW? I. Extended timeline The timeline has been increased from 20 to 40 […]
UAE VAT Updates – Revised List of Designated Zones in UAE and amended UAE VAT Executive Regulations on goods supplies in a Designated Zone and connected shipping or delivery charges
The Federal Tax Authority (FTA) recently updated the list of Designated Zones (DZ) in the UAE by adding one DZ and excluding three DZs from the existing list of DZs. The UAE Cabinet has issued Decision Number 88 of 2021 to amend Article 51 of the UAE VAT Executive Regulations to be effective from 30th […]
