• Tax

    In collaboration with a leading local accountancy firm, OBG provides an overview of the tax system, including information on corporate, sales and income taxes. Other topics include repatriation of profits, capital movements, investment incentives, Customs duties and free zones.
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The UAE’s taxation environment is one of the most lenient in the world, and as such it attracts investors to form and operate business in the country. Under the constitution, the federal government has jurisdiction to legislate in relation to the UAE’s taxation system, but no unified tax law has been enacted to date. Alternatively, the seven...

 

As the third-largest emirate in the UAE, Sharjah continues to develop various areas of its economy, particularly in the field of commerce. In this context, safeguarding the intellectual property (IP) of businesses is indispensable as the country moves, through the growth of the non-oil sector, towards a more diversified economy.

 

The UAE is made up of seven emirates – Abu Dhabi, Dubai, Sharjah, Ajman, Ras Al Khaimah, Fujairah and Umm Al Quwain – and adopts a federal system of government. The federation is governed by a constitution, which regulates the respective powers of the federal government as well as the local government of each emirate member; noting that the...

Chapter | Legal Framework & Tax from The Report: Sharjah 2018

This chapter contains an overview of the legal and tax frameworks in which local and international investors operate in Sharjah, including a rundown of the free zones exempted from caps on foreign ownership and a summary of the new UAE-wide value-added tax of 5%. This chapter contains a viewpoint from Eslam Farouk and Nehad Farouk, Co-founders, Al FaroukInternational Intellectual Property...

Sharjah has long played an important economic and cultural role in the UAE, and boasts one of the most diversified economies by regional standards, with no individual sector accounting for more than 20% of GDP.

 

Tax simplification has always aroused interest. This concept entails the simplification of the structure of the whole tax system or of one tax in particular, as well as the streamlining of administrative procedures in relation to taxpayer assistance, tax determination, assessment, collection and auditing.