Author

Mohamed El Baghdady

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In brief The Abu Dhabi Court of First Instance recently dismissed an appeal filed by the Federal Tax Authority (FTA) against fines and penalties imposed by the FTA against a UAE company, a Dubai based beverage distributor, in connection with excise taxes. Baker McKenzie Habib Al Mulla represented the company. The court also ordered that the FTA repay the full amount of the penalties to the company. The Tax Dispute Resolution Committee had previously ordered…

A recent decision by the Tax Dispute Resolution Committee (TDRC) upheld an appeal by an international corporate and investment bank against fines and penalties imposed by the UAE Federal Tax Authority (FTA) in respect of a voluntary disclosure made by the bank. Baker McKenzie Habib Al Mulla successfully represented and obtained the favourable decision for the bank, with the TDRC ordering the FTA (the Defendant) to repay the amount paid for the fines and penalties…

The Kingdom of Saudi Arabia (KSA) has announced to triple the rate of VAT to 15%, which will come to effect on 1 July 2020. This is a significant rate increase and one of the fiscal measures taken by the KSA Government to mitigate the negative effects of the COVID-19 pandemic and other macro-economic developments on public finance. The increased rate is expected to apply to all supplies of goods and services that are currently…

Businesses in the UAE have by now, adapted to conducting their operations within the new VAT regime. Although the UAE VAT Law remains relatively new and contentious with many companies continuing to grapple with the emerging issues and ultimately with the Federal Tax Authority’s (FTA) interpretation of the law. There have been a few cases to date that involved successful challenges to the FTA’s assessment on taxes and penalties, where the UAE courts had intervened…

Internal or regulatory-driven investigations into criminal or other improper conduct by individuals or their companies can raise serious issues, having long-lasting impact on risk management, reputation and costs. Delivering a thorough, carefully planned and credible investigation will minimise disruption to your business, help you maintain control of the process and ultimately could help mitigate the risk of corporate criminal, civil or regulatory liability and the resultant sanctions.