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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 ...
Profiles of Existing Government Corporations—A Study Prepared by the U.S. General Accounting Office for the Committee on Government Operations (PDF), Washington, DC: U.S. Government Printing Office, 1988, p. 301, GAO/AFMD-89-43FS Document: H402-4.
In the corporations of real estate law, the ownership or membership may be vested either in the real property or in a legal or natural person, depending on the corporation type. In many cases, the membership or ownership of such corporation is obligatory for a person or property that fulfils the legal requirements for membership or wishes to ...
Since 1946, the laws passed by the Congress, including legal codes, have been titled Republic Acts. [b] While Philippine legal codes are, strictly speaking, also Republic Acts, they may be differentiated in that the former represents a more comprehensive effort in embodying all aspects of a general area of law into just one legislative act.
The legal system in the United Arab Emirates is based on civil law, and Sharia law in the personal status matters of Muslims and blood money compensation. [1] Personal status matters of non-Muslims are based on civil law. [2] The UAE constitution established a federal court system and allows all emirates to establish local courts systems. [3]
On the same year the UAE was the Philippines' 2nd import partner and 1st export partner in the Middle East. 90% of the Philippines' import from the UAE are petroleum products. The UAE, particularly Abu Dhabi, serves as a transit hub for the Philippines export products, many of which enter duty-free to other countries in the Middle East. [3]
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]
The emirates of Abu Dhabi and Dubai also have common law courts that adjudicate commercial cases in financial free zones, with both emirates allowing local businesses to opt-in to the jurisdiction of the common law courts for business contracts. [2] [3] [4]