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The UAE federal tax system is administered by the Federal Tax Authority (FTA), which was founded ahead of the 2018 implementation of a federal value added tax (VAT). The current standard VAT rate in the country is 5%. [2] [3] In January 2022, the UAE Ministry of Finance announced the implementation of a federal corporate tax starting June 2023. [4]
Some free zones (including ADGM, JAFZA, DMCC, RAK FTZ) allow for inward re-domiciliation of foreign companies, which means a transfer of a corporate seat of an existing company from abroad to the UAE free zone. [3] There are a few Free Zones in UAE [4] that offer Dual Business License for investors. [5]
Free zones in Dubai are managed and operated by the relevant authority. For instance, the Jebel Ali Free Zone Authority in Dubai is responsible for managing, operating and supervising the Jebel Ali Free Zone, one of the largest seaport free zones in Dubai. It has a subsidized rate of 32 percent on the country's Foreign Direct Investment (FDI).
DAFZ was established in 1996. It came into being as a part of the Dubai government's strategic plan to make Dubai an investment-driven economy. Today, it is one of the fastest-growing and pioneering free zones in the region, contributing to around 4.7 percent of Dubai's gross domestic product) It allows international investors a completely duty-free business setup and execution of services ...
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The Dubai government has denied any kind of labour injustices and has stated that the watchdog's (Human Rights Watch) accusations were misguided. [9] Towards the end of March 2006, the government announced steps to allow construction unions. UAE labour minister Ali al-Kaabi said: "Labourers will be allowed to form unions."
The types of Business Licenses issued in the United Arab Emirates (UAE) are professional, commercial, industrial and tourism. The professional license covers services offered by professionals, artisans and craftsmen; the commercial license covers all trading and commercial activities performed with an intention of making profit ; the industrial license covers all industrial and manufacturing ...
An Overseas Employment Certificate (OEC), also known as an exit pass or an exit clearance, [2] is an identity document for Filipino migrant workers or Overseas Filipino Workers (OFWs) departing from the Philippines.