We are delighted to invite you to the Baker McKenzie Middle East Tax Forum in Dubai on Wednesday, 18 October 2023 – a full day of interactive discussions on tax updates across the Middle East and a special focus on the impact of global tax policy developments such as Pillar 1 and Pillar 2 (Global Minimum Tax).
With the pace of change in the UAE continuing to accelerate, the UAE authorities announced in July 2023, via Twitter, an expansion to the categories of companies that are subject to the Emiratisation quota requirements. This latest development further evidences the country’s commitment to increasing the numbers of UAE national employees employed in the private sector.
The United Arab Emirates’ federal-level financial services regulator relevant to securities, commodities and now Virtual Assets Service Providers, the UAE Securities and Commodities Authority (SCA), has just issued two new regulations relevant to Virtual Assets:
1. SCA Chairman of the Board of Directors’ Decision No. (26/RM) of 2023 in relation to Virtual Assets Platform Operators
2. SCA Chairman of the Board of Directors’ Decision No. (27/RM) of 2023 amending SCA Chairman of the Board of Directors’ Decision No. (13/RM) of 2021 in relation to the SCA Rulebook
On 18 April 2023, the Dubai International Financial Centre (DIFC) launched a 30-day public consultation on the proposed amendments to the Personal Data Protection Regulations to establish additional areas of regulation that would support the strong implementation of the DIFC Data Protection Law No. 5 of 2020. The proposed amendments are aimed at enhancing the current data protection framework in the DIFC and addressing the means for better, safer and more ethical management of personal data processing and operations.
Join us for a four-part webinar series as our US moderators welcome colleagues from around the globe to share the latest labor and employment law updates and trends. US-based multinational employers with business operations in Asia Pacific, Europe, the Middle East and Africa, and the Americas regions will hear directly from local practitioners on the major developments they need to know, and come away with practical tips and takeaways to implement.
The 2023 Guide to Doing Business in the United Arab Emirates is your simple but comprehensive guide to understanding and navigating the current investment climate and the most important laws regulating investments and commercial activities in the UAE.
The guide features various topics, including the history, geography and economy of the UAE, the legal and judicial systems, foreign investment models, real estate ownership and leasehold, and employment. It also provides a comparison of the available legal investment vehicles that may potentially be used to enter the UAE market.
Baker McKenzie is delighted to invite you to interactive seminars on 1 March 2023 in Abu Dhabi and 2 March 2023 in Dubai as part of our EMEA Russia Sanctions Briefings. The seminars will focus on the multijurisdictional sanctions challenges facing financial institutions and their clients and other corporates in the Gulf, in relation to the US, UK, EU and UAE sanctions regimes, particularly against Russia. We will also focus on the current enforcement environment and best practices for mitigating sanctions risk arising from potential compliance failures.
The Middle East luxury brands industry has rapidly expanded in recent years, driven by rising global consumption and major strides in online retail sales and marketing. These developments have also brought new challenges for the industry as companies face more stringent regulations as well as complex corporate and employment issues as they expand into new markets. As luxury goods companies gather large amounts of customer information, data protection has also become a major concern. Join Baker McKenzie for an update on the employment and data protection laws for luxury brands in the Middle East on 8 February 2023 from 2:00 – 3:00pm GST.
In this vlog series, our MENA team of cross-practice specialists provide a quick roundup of the latest legal and commercial developments in the region as well as insights to emerging challenges and opportunities, to guide you as you shape your organization’s business resilience and strategy in the medium and long term. In addition, our senior female lawyers from our BakerWomen Middle East team join the conversations and share their insights on business and inclusion issues and trends in the region, as together we look to build trust and well-being in a post-pandemic world.
The issuance of Federal Decree-Law No. 47 of 2022 on the Taxation of Corporations and Businesses on 9 December 2022 provides businesses operating in the UAE with a framework for understanding how the corporate tax regime will impact their business model. The Corporate Tax law is broadly in line with the public consultation document that was issued in April 2022, however, one of the notable changes is the release of the conditions to be satisfied by UAE Free Zone entities to be eligible for the 0% rate (rather than being taxed at the headline 9% rate).