April 2017 – Sangani And Company

Kenya’s central bank has issued a banking licence to DIB Bank Kenya Ltd, which is owned by United Arab Emirates-based Dubai Islamic Bank which will make DIB Bank Kenya the third fully Sharia-compliant lender to operate in the east African nation

Kindly refer link (as appeared in Gulf News on 29th April, 2017) for more details

http://gulfnews.com/business/sectors/banking/kenya-issues-licence-to-dib-unit-1.2018663

RSS

UAE Economic Substance Regulations – ESR June 8, 2020

Links to ESR laws and regulations https://www.mof.gov.ae/en/lawsAndPolitics/CabinetResolutions/Pages/312019.aspx https://www.mof.gov.ae/en/StrategicPartnerships/Pages/ESR.aspx

VATP013 – VAT Public Clarification – Disbursements & Reimbursements August 1, 2019

Kindly refer link in UAE FTA website https://www.tax.gov.ae/-/media/Files/FTA/links/Public-Clarification/VATP013—Disbursements-and-Reimbursements.pdf

Cabinet Decision No. (10) of 2019 CONCERNING THE IMPLEMENTING REGULATION OF DECREE LAW NO. (20) OF 2018 ON ANTI- MONEY LAUNDERING AND COMBATING THE FINANCING OF TERRORISM AND ILLEGAL ORGANISATIONS July 22, 2019

link https://www.mof.gov.ae/en/lawsAndPolitics/CabinetResolutions/Pages/201910.aspx

CABINET OF MINISTERS RESOLUTION No. (32) of 2019 on the regulation of reports submitted by multinational companie July 22, 2019

https://www.mof.gov.ae/en/lawsAndPolitics/CabinetResolutions/Pages/BEPS_UAE_CBCR_Regulation_AR.aspx

CABINET OF MINISTERS RESOLUTION No. 31 of 2019 CONCERNING ECONOMIC SUBSTANCE REGULATIONS July 22, 2019

H.H. Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai issued the Resolution of the Cabinet of Ministers No. (31) for 2019 concerning Economic Substance Regulations. Article 1 outlines the basic definition for the implementation of this resolution. The Resolution of the Cabinet of Ministers defined […]

UAE VAT – Further designated zones July 22, 2019

UAE FTA has added three more free zones in Ras Al Khaimah as part of Designated zones which are: 1) Al Hamra Industrial Zone 2) Al Ghail Industrial Zone 3) Al Hulaila Industrial Zone

Felicitation as one of Super 100 July 1, 2019

Mr Pratik Sangani has been felicitated as one of’The Indian Super 100 Middle East and Africa, Super 100 Vol 3, Next Generation and Enterpreneurs at Waldorf Astoria on 28th April, 2019.

VAT clarification on Donations, Grants and Sponsorships January 28, 2019

UAE FTA has issued public clarification on Donations, Grants and Sponsorships in below link https://www.tax.gov.ae/pdf/VATP011%20-%20Donation%20Grants%20and%20Sponsorships.pdf

VAT clarification on Interests and Dividends January 28, 2019

UAE FTA has issued Public Clarification on Interest and Dividends in below link https://www.tax.gov.ae/pdf/VATP010%20Interest%20and%20Dividends.pdf

Tourists in UAE wont get retrospective VAT refund September 10, 2018

Per Khaleej Times report dated September 7, 2018 Tourists in the UAE are unlikely to get VAT refunds for purchases made before the refund scheme comes into effect from November 2018, For complete article kindly visit link https://www.khaleejtimes.com/business/vat-in-uae/tourists-in-uae-wont-get-retrospective-vat-refund

Month: April 2017

Dubai Islamic Bank obtains banking licence in Kenya

VAT – FAQ