Court Uncourt - Volume VI Issue 12

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Taxation has become an indispensable part of modern economic system which includes an array of different tax models around the world encompassing different policies and regulations that governments can choose from. The implementation of Value Added Tax (VAT) in the United Arab Emirates from 1 January 2018 was a positive step as the levy of indirect taxes on most goods and services provides the country with a new source of income which ensures the continued provision of such public services. additionally, it assists the government in achieving its vision of reduced dependence on oil, thereby building a sustainable economy for the future.

Various legislation governs VAT in the United Arab Emirates which encompass establishment of Federal Tax Authority, the scope of such legislation, consequences of the breach of any of the provisions, coupled with relevant penalties therein. VAT creates challenges for businesses, especially for the newly implementing countries, in order to cope with it in its early years of implementation. The relevant legislation ensures that the system follows proper compliance and smooth operation.
In this issue of Court Uncourt, our lawyers will elaborate on a broad range of legal matters including Value Added Tax Penalties in the United Arab Emirates, Collective Bargaining Instruments and its Implementation Challenges, Inheritance under Shariah Law, the Cost of Running a Private Equity Real Estate Fund, Implications of Brexit on the businesses in the United Arab Emirates, a Guide on Victim-Offender Mediation: An alternative to the Criminal Justice System, Georgia Hands-Free Law, Defective Handover of Real Estate Units, Enforceability of Smart Contracts in India, Aircraft Repossession under Cape Town Convention in the United Arab Emirates, etc.