FTA calls on businesses to file Excise Tax returns before November 15

Tax returns


The Federal Tax Authority, FTA, has called upon businesses registered for Excise Tax to file their October returns before the deadline on November 15th, 2017, in order to avoid the penalties stipulated in Cabinet Decision No. (40) of 2017 on Administrative Penalties for Violations of the Tax Laws in the UAE.

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UAE Central Bank warns against Bitcoin



The UAE Central Bank has warned against Bitcoin, terming it as unofficial and lacking sufficient supervision.


The warning was made by Mubarak Rashed Al Mansouri, Governor of the UAE Central Bank, on the sidelines of the Islamic Financial Services Board Summit which started in Abu Dhabi today.


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Dubai’s big leap forward in ease of doing business

Business in Dubai


Ease of doing business has huge implications for both foreign direct investments and local businesses as this is impacted by the processes, rules, and regulations set up by governments that can help promote a business-friendly environment or hold back local businesses from their entrepreneurial ambitions. The new building permit scheme in Dubai announced by the government aims to ensure speeding up the process of acquiring building permits from concerned government entities to assist investors in the real estate sector. It goes without saying that when systems, rules and regulations are business-friendly, setting up businesses is made easier for not just big companies but also smaller ones that have less capital and resources at their disposal.


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Dubai business conditions improve in May

Construction companies experienced the fastest improvement in business conditions


Private sector business conditions in Dubai recorded robust improvement in May with output and new orders expanding, but the growth momentum eased to a seven-month low.


Emirates NBD’s Economy Tracker Index, which tracks business confidence across the non-oil economy, dropped to 55.0 for the month of May, down from a two-year high of 57.7 in April.

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