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20 Oct 2020

Ministerial Decree on usage of essential information and data in relation to innovation in Pharmaceutical Products

Ministerial Decree on usage of essential information and data in relation to innovation in Pharmaceutical Products The UAE has always been on the forefront of innovation and economic diversification in order to maintain a robust IP mechanism. In relation to this a Ministerial Decree was issued in the month of…

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19 Oct 2020

UAE on the Regulation of the Procedures of Real Beneficiaries

UAE on the Regulation of the Procedures of Real Beneficiaries The UAE Cabinet is all set to implement Cabinet Decision No. 58 / 2020 for the Regulation of the Procedures of Real Beneficiaries in order to regulate obligations of corporate entities that fall outside the ambit of financial free zones…

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15 Feb 2020

UAE’S Country-By-Country Reporting Rules

UAE’S Country-By-Country Reporting Rules The United Arab Emirates (UAE) has ratified the Base Erosion and Profit Shifting Framework in 2018. Recently, UAE’s Ministry of Finance passed Cabinet Resolution Number 32 of 2019 related to Country-by-Country Reporting (CbCR) compliance obligations (CbCR Rules) for multinational companies/entities (MNE) based in or operating from…

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13 Feb 2020

UAE Medical Liability Law gets its Implementing Resolution

UAE Medical Liability Law gets its Implementing Resolution The Cabinet Resolution No. 40 of 2019 related to Federal law No. 4 of 2016 i.e. Medical Liability Law was issued to elaborate the implementation machinery of the law. Prior to the issuance of the Cabinet Resolution, the practitioners who committed any…

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11 Feb 2020

Related Party Transactions for VAT in Bahrain

Related Party Transactions for VAT in Bahrain The Kingdom of Bahrain under Decree-Law Number 48 of 2018 (Decree-Law) is the pivotal legislation with regards to Value Added Tax (VAT) in Bahrain. Further, the Executive Regulations Number 12 of 2018 (Executive Regulations) are the elaborate rules with respect to the application…

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09 Feb 2020

DIFC Qualifying Employer Workplace Savings Scheme

DIFC Qualifying Employer Workplace Savings Scheme In the early part of the year 2019, Dubai International financial Centre Authority (DIFCA) proposed in the consultation paper to revise the end of service gratuity (ESG) regime. ESG regime was proposed to be replaced with contributions-based-savings. In February 2020, the DIFCA brought amendments…

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