The Federal Tax Authority clarified that penalties have been set for nine types of violations of the Digital Tax Stamp Scheme.
A new shipment of cigarette packets marked with the Digital Tax Stamps approved by the Federal Tax Authority (FTA) has made it to Dubai. The Stamps will be electronically tracked to ensure Excise Tax due on tobacco products has been settled. In a press statement issued on Saturday,
"Refunding taxes for legally eligible applicants is a direct transaction between the registered business and the FTA, and does not call for any intermediaries."
The Federal Tax Authority (FTA) has launched its comprehensive awareness campaign, which seeks to introduce the objectives and procedures of the expansion of Excise Tax, and requirements for registering in the FTA’s electronic system.
The Sharjah Finance Department, SFD, recently established a framework worth Dhs4 billion to enhance liquidity for the banking system in the emirate. The move aims to provide additional financial assistance to all businesses impacted by the outbreak of COVID-19.
Dubai-based Emerging Markets Property Group (EMPG) and OLX Group, owners of homegrown technology firms Bayut and dubizzle, have announced the merger of their Mena and South Asia operations to form an Dhs3.6 billion ($1 billion) Dubai-based unicorn company.
Jubail Island Investment Company (JIIC), has awarded continuing infrastructure works contract worth more than Dhs200 million for Jubail Island to Gulf Contractors Company (GCC).