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Federal Law No. (1) for the year 2003 A.C. regarding establishment of the Federal Customs Authority (FCA) in the UAE defined the primary Functions and responsibilities of FCA on the basis that it is the authority concerned with drawing customs policy in cooperation with customs administrations, preparing unified legislations to regulate customs work, and supervising implementation of it by ...
The Dubai Multi Commodities Centre (DMCC) is a commodities exchange and free-trade zone in the United Arab Emirates. It is located in the Jumeirah Lake Towers district of Dubai . The DMCC was created in 2002 and deals in four main sectors: precious commodities (e.g., gold, diamonds); energy; steel and metals and agricultural commodities (e.g ...
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]
Migrant workers in the United Arab Emirates describe the foreign workers who have moved to the United Arab Emirates (UAE) for work. As a result of the proximity of the UAE to South Asia and a better economy and job opportunities, most of the migrant foreign workers are from India, Nepal, Sri Lanka, Bangladesh, Philippines and Pakistan.
The Microsoft sign at the entrance of the Dubai Microsoft campus, Dubai Internet City Dubai Maritime City, Dubai under construction in 2008. A free zone authority is a designated economic area governed by its own set of regulations, which differ from those applicable to businesses outside the zone.
Aramex is chairing the alliance which uses a shipment management system developed by the company. [10] [11] [12] Aramex went public on the Dubai Financial Market in February 2005. [2] [6] [7] The IPO raised US$270 million. [2] The company's revenue increased 23% over 2004 and net income increased 56% that year. [2]
Free-trade zones in Dubai, (FTZs) are special economic zones set up with the objective of offering tax concessions and customs duty benefits to expatriate investors. There are 26 Free Zones operating in Dubai. FTZs in Dubai and the UAE are governed pursuant to a special framework of rules and regulations. A Free Zone Authority offers business ...
The Embassy of the Philippines in the UAE asked laid-off Filipinos to register, because of the possibility of job openings in nearby Qatar. [7] However, the decline could also be attributed to new visa and passport requirements that the government of the UAE instituted midway through 2008, [12] [13] affecting up to 20,000 Filipinos. [14]