Recent Posts

UAE, Mideast economic confidence at 3-year high

DUBAI / Emirates Business Economic confidence in the UAE and the Middle East rebounded further in the second quarter of the year and is now at its highest level since Q2 2015, despite a slowdown in the global economic recovery that started in late 2016, finds the latest edition of ACCA (the Association of Chartered Certified Accountants) and IMA Global ...

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FTA classifies ‘eligible goods’ for calculating VAT

ABU DHABI / WAM The Federal Tax Authority (FTA) has determined three main categories of “eligible goods” for calculating Value Added Tax (VAT) on the basis of the profit margin scheme. These are second-hand goods, meaning tangible movable property that is suitable for further use as it is or after repair; antiques, i.e. goods that are over 50 years old; ...

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ADGM issues public consult on framework for PFPs

ABU DHABI / WAM Abu Dhabi Global Market (ADGM), the International Financial Centre in Abu Dhabi, on Wednesday published a consultation paper setting out its proposed regulatory framework for operators of Private Financing Platforms (PFPs) in ADGM. The consultation paper follows positive feedback received from the industry in response to the March discussion paper issued by the Financial Services Regulatory ...

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