Federal Decree Law No. 14 of 2020 Amends Some Provisions of the Commercial Transaction Law

Last updated on December 26th, 2020 at 10:14 am The amendments include changing certain provision covering bounced cheques and the issuance of cheques without value, by providing fast, advanced and civil mechanisms to collect the required payments. As per amendment: a)A cheque is due for payment on the date shown thereon as its date of issue. A cheque may not be presented for payment prior to such date. b) Where the consideration for payment is less than the value of the cheque, the drawee shall effect part payment to the extent of the funds available to it, unless the bearer … Continue reading Federal Decree Law No. 14 of 2020 Amends Some Provisions of the Commercial Transaction Law→

PRESIDENT HIS HIGHNESS SHEIKH KHALIFA BIN ZAYED AL NAHYAN IS ISSUED A NUMBER OF PRESIDENTIAL DECREES

Last updated on November 13th, 2020 at 03:19 pmInheritance lawThe new amendments stipulate that the inheritance would be dealt with as per the nationality of the deceased person at the time of his death unless there is WILL. However, the property purchased in the UAE by the deceased will be managed according to UAE law. MarriageLaws of the country in which the marriage took place would be applied with regards to the marriage terms instead of the previous provisions which applied the laws of each spouses’ country of nationality. If a couple were married in their home country but filed … Continue reading PRESIDENT HIS HIGHNESS SHEIKH KHALIFA BIN ZAYED AL NAHYAN IS ISSUED A NUMBER OF PRESIDENTIAL DECREES→

ADMINISTRATIVE FINES DETERMINED FOR THE CASE OF VOLUNTARY DECLARATION

Last updated on November 13th, 2020 at 03:32 pmFirst – In the case that the Taxable Person makes a voluntary declaration about mistakes in the tax declaration or tax assessment or request for tax refund, the Federal Tax Authority shall apply against him the fines and penalties specified in Item No. (11) Of Table (1) of Cabinet Resolution No. 40 of 2017: 1. Fixed amount: (3000) dirhams for the first time. (5000) dirhams in case of repetition. 2. A relative penalty imposed on the difference amount that was not paid to the Authority as a result of a mistake, for … Continue reading ADMINISTRATIVE FINES DETERMINED FOR THE CASE OF VOLUNTARY DECLARATION→

ENFORCEMENT OF ARBITRATION AWARDS

Last updated on November 13th, 2020 at 03:44 pmKhairallah Advocates & Legal Consultants successfully enforced numerous arbitration awards through courts in the UAE. Application for the enforcement of an arbitration award can now be brought directly before the UAE Court of Appeal. The Chief Justice of the Court or whoever he delegates from among its judges shall order the arbitral award confirmed and enforced within sixty days of submission of the request for its confirmation and enforcement, unless it finds one or more of the grounds for setting aside the award under section 1 of Article 53 of Arbitration Law. … Continue reading ENFORCEMENT OF ARBITRATION AWARDS→

SUCCESS STORY- LANDMARK JUDGMENT UNDER LABOR CASE

Continuation of employment relationship in the event that the Employee is suspended from work without justification. Under an unlimited term labor contract, our Client (Employee) entered into an employment relationship with the Defendant Company, the Defendant Company suspended the Employee from work without justification for more than a year and six months and therefore the Employee filed labor case against the Employer. Continue reading SUCCESS STORY- LANDMARK JUDGMENT UNDER LABOR CASE→

SUCCESS STORY IN TAXATION CASE

Khairallah Advocates & Legal Consultants obtained landmark judgment against Federal Tax Authority (FTA), revoked decision issued by the Committee of Resolution of Tax Disputes in the Emirate of Dubai imposing penalties imposed as per clause (9) and (11) of Table (1) of the Cabinet Decision No. (40) of 2017. Continue reading SUCCESS STORY IN TAXATION CASE→

NEW DECREES AND LAW AMENDMENTS IN THE UAE

UAE boasts a well-defined system of law which combines conventional and shariah laws. UAE is fast-paced when it comes to developments and advancements. Therefore, the federal supreme council bring amendments to the laws to cope up with the changes and it’s imperative for everyone including the Emiratis and expatriates to be aware of the updation in law since ‘unawareness of law’ is not an acceptable justification in the court of law. Lately, the UAE has implemented new decrees and amended some existing laws. Continue reading NEW DECREES AND LAW AMENDMENTS IN THE UAE→

SUCCESS STORY – ACCEPTANCE OF JURISDICTION OF COURT OVER JUDICIAL COMMITTEE ESTABLISHED TO HEAR MATTER RELATED TO FINANCE COMPANY

Khairallah Advocates & Legal Consultants successfully represented Client in real estate matter in defending jurisdiction of Court over Judicial Committee.The Contestant had filed plenary real estate against the First Contestee before the Honorable Dubai Court of First Instance, whereby he asked the Court to: 1) Invalidate the contract of sale under disputed, and – alternately – to terminate the contract, and in all cases, to obligate the first Contestee to pay the Contestant the amounts previously paid by the Contestant plus an interest at 12% as of the date of judicial claim till the date of full payment; 2) Obligate the First Contestee to pay the Contestant compensation.
Continue reading SUCCESS STORY – ACCEPTANCE OF JURISDICTION OF COURT OVER JUDICIAL COMMITTEE ESTABLISHED TO HEAR MATTER RELATED TO FINANCE COMPANY→

COMPLIANCE WITH ECONOMIC SUBSTANCE REGULATIONS

Last updated on November 13th, 2020 at 04:45 pmUAE introduced a Resolution on the Economic Substance (Cabinet of Ministers Resolution No.31 of 2019, the “Regulations”) on 30 April 2019. The Regulations require UAE onshore and free zone companies and other UAE business forms that carry out any of the “Relevant Activities” listed below to maintain an adequate “economic presence” in the UAE relative to the activities they undertake. Relevant Activities: Banking Business Insurance Business Investment Fund management Business Lease – Finance Business Headquarters Business Shipping Business Holding Company Business Intellectual property Business (“IP”) Distribution and Service Centre Business If the … Continue reading COMPLIANCE WITH ECONOMIC SUBSTANCE REGULATIONS→

DUTIES, POWERS AND LIABILITY OF THE BOARD OF DIRECTORS IN THE UAE

Last updated on April 30th, 2020 at 04:12 pmDuties of the Board of Directors: Implementing a policy that ensures stakeholder welfare; Ensuring the company has sound administrative, financial and accounting systems; Establishing procedures to manage conflicts between board members, senior management, shareholders and so on; Ensuring the application of governance rules in the company. Powers of the Board of Directors: The Board of Directors shall have all the required powers to do such acts as required for the object of the company, other than as reserved by the UAE Federal Law No. 2 of 2015 on Commercial Companies or the Articles of Association of the company … Continue reading DUTIES, POWERS AND LIABILITY OF THE BOARD OF DIRECTORS IN THE UAE→

Federal Decree Law No. 14 of 2020 Amends Some Provisions of the Commercial Transaction Law

PRESIDENT HIS HIGHNESS SHEIKH KHALIFA BIN ZAYED AL NAHYAN IS ISSUED A NUMBER OF PRESIDENTIAL DECREES

ADMINISTRATIVE FINES DETERMINED FOR THE CASE OF VOLUNTARY DECLARATION

ENFORCEMENT OF ARBITRATION AWARDS

SUCCESS STORY- LANDMARK JUDGMENT UNDER LABOR CASE

SUCCESS STORY IN TAXATION CASE

NEW DECREES AND LAW AMENDMENTS IN THE UAE

SUCCESS STORY – ACCEPTANCE OF JURISDICTION OF COURT OVER JUDICIAL COMMITTEE ESTABLISHED TO HEAR MATTER RELATED TO FINANCE COMPANY

COMPLIANCE WITH ECONOMIC SUBSTANCE REGULATIONS

DUTIES, POWERS AND LIABILITY OF THE BOARD OF DIRECTORS IN THE UAE

Interesting UAE Law FAQs

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