On September 16th, a new issue of the Federal Gazette was circulated which included the new Executive Regulations of the 2023 Financial Restructuring and Bankruptcy Law in the UAE.
Beginning 2023, the Law governing Family Businesses in the UAE came into force. The Law stipulated that a special judicial committee will be formed, in each Emirate, to handle the settlement of disputes related to these family businesses. Dubai has now established such Committee.
The UAE Arbitration has been amended pursuant to a law recently enacted. Three key changes have been introduced with these amendments that will impact and enhance the efficiency and flexibility of the arbitration law.
A new Cabinet Resolution No. (37) of 2023 has been issued, relating to Qualifying Public Benefit Entities for the purposes of the Corporate Tax Law. The aim of the Resolution is to ensure that entities operating for the public benefit are eligible for tax exemption.
Federal Decree No. (180) of 2022 Ratifying the Agreement of the Payment Systems Linkage System Between the Cooperation Council for the Arab States of the Gulf
