Category: Politics

The two countries plan to launch talks for a Comprehensive Economic Partnership Agreement.

Organisations have to meet the conditions specified in Article 9 of the corporate tax law.

Public benefit organisations that contribute to the welfare of society will be eligible for exemptions under the UAE’s corporate tax law, the Ministry of Finance said on Sunday.

Organisations that qualify for the exemption, which was decided by the UAE Cabinet, will include entities that focus on activities such as philanthropy, community services and corporate social responsibility, the ministry said.

“This implementing decision is designed to reflect these entities’ important role in the UAE, which often includes religious, charitable, scientific, educational, or cultural value”, the Ministry of Finance said.

To qualify for the exemption, entities must meet the conditions specified in Article 9 of the corporate tax law and must maintain compliance with all relevant federal and local laws, the ministry said.

They must also inform the ministry of any changes that may affect their status as a qualifying public benefit entity.

Last year, the UAE introduced the federal corporate tax with a standard statutory rate of 9 per cent, which will come into effect for businesses whose financial year starts on or after June 1 this year.

In December, the country issued the federal corporate tax law, bringing the income of companies exceeding Dh375,000 ($102,000) into the corporate tax bracket.

The UAE corporate tax law currently exempts certain entities, including those involved in natural resource extraction activities in the country. However, they are still subject to existing local emirate-level tax.

Other exemptions are available to organisations such as government entities and pension or investment funds.

Existing free-zone entities are also exempt from corporate tax because they are among the drivers of the UAE’s economic growth, the ministry said in December.

Public benefit entities should register with the Federal Tax Authority (FTA) and obtain a registration number for corporate tax purposes, the Ministry of Finance said.

“The Cabinet may amend the schedule of qualifying public benefit entities at the suggestion of the minister by modifying, adding, or removing entities,” it said.

Qualifying public benefit entities have reporting obligations to ensure they meet the approval criteria.

The Cabinet decision also allows donations to qualifying public benefit entities to be a deductible expenditure under Article 33 of the corporate tax law.

The UAE’s corporate tax regime is based on a self-assessment principle, which means businesses are required to ensure that the documents submitted to the FTA are correct and comply with the law.

Sheikh Hamdan bin Mohammed says decision was made to enhance Emiratis’ living standards.

Dubai will waive Dh146 million in outstanding housing loan repayments for 426 low-income citizens.

Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, said the gesture was made in an effort to boost the living standards of Emiratis.

He said the emirate’s Higher Committee for Development and Citizens Affairs would be responsible for implementing the decision.

“We continue to implement initiatives and provide all support to enhance the standard of living for all citizens in Dubai,” Sheikh Hamdan wrote on Twitter.

It is the latest effort by the UAE leadership to support the housing needs of its population.

Dubai’s Crown Prince on Tuesday launched an international design competition to produce affordable housing for the city.

Sheikh Hamdan invited architects and designers from around the world to submit their designs for smart homes that families could mortgage for Dh1 million ($272,000).

The “House of the Future” competition comes as the city sees a rise in population and a boom in demand for property.

On Monday, Sheikh Khaled bin Mohamed, Crown Prince of Abu Dhabi, approved a Dh2.74 billion housing support plan for Emiratis living in the capital.

The crucial assistance for 1,800 citizens will be delivered under the directives of President Sheikh Mohamed.

Low-income retirees and families of deceased mortgage holders will not to be required to make housing loan repayments under the scheme.

Housing loans will also be provided to eligible citizens as part of the initiative.

In the past, such directives were issued to allow families to shop and prepare for the Eid holidays.

UAE federal government employees will receive their monthly salaries on Monday, April 17. Under the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, the salaries will be paid in advance, reports WAM.

In the past, such directives were issued to allow families to shop and prepare for the Eid holidays.

The South American leader is on an official visit to the Emirates.

The UAE President Sheikh Mohamed bin Zayed received Brazilian President Luiz Inacio Lula da Silva in Abu Dhabi after he arrived for an official visit.

The Brazilian President was welcomed by Sheikh Mohamed at Qasr Al Watan, where he attended an official reception.

President Lula’s convoy was accompanied by a guard of honour consisting of riders on horseback. The official reception ceremony included a performance of the national anthem of Brazil, a 21-gun artillery salute, and a flypast by the UAE Air Force aerobatics team “Al Fursan”, trailing smoke in the colours of the Brazilian flag, the Wam news agency reported.

He was accompanied by his wife, the Brazilian First Lady Rosangela Lula da Silva.

Earlier on Saturday at his arrival at the Presidential Flight in Abu Dhabi, President Lula was received by Suhail Al Mazrouei, Minister of Energy and Infrastructure and head of the UAE delegation accompanying the Brazilian President, and a number of other officials, Wam said.

It is his first visit to an Arab country since beginning his third term in office.

The UAE is one of Brazil’s largest trading partners in the Middle East. In 2022, bilateral trade rose to $5.7 billion, a 74 per cent increase in comparison to 2021. Agribusiness accounts for almost 60 per cent of Brazilian exports to the UAE.

The UAE will host Cop28 UN climate summit later this year at Expo City Dubai. Brazil has bid to host Cop30 in 2025.

This year’s event is expected to be attended by about 70,000 participants, including heads of state, government officials, leaders of global industrial sectors, representatives of the private sector and climate experts.

Aims of project to nominate personalities from the region in six distinguished categories.

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, on Wednesday, took to Twitter to highlight the potential of Arab talent to lead scientific and cultural advancements. His Highness expressed his confidence in their ability to enrich civilisational development and scientific progress.

“We recognise the importance of fostering opportunities for creative Arab talent and supporting them in utilising research, development and technologies to shape a brighter future for humanity. The UAE will continue to serve as a hub for exceptional talents, including scientists, doctors, writers, thinkers, researchers and innovators,” said Sheikh Mohammed.The remarks were made during a meeting held with the committee members of the Great Arab Minds initiative, in the presence of Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai; Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, and Deputy Prime Minister and Minister of Finance of the UAE, and Sheikh Ahmed bin Mohammed bin Rashid Al Maktoum, Chairman of the Dubai Media Council.

The Dubai Ruler said that the aim of the committee is to nominate Arab personalities in six distinguished categories – science, architecture, engineering, economics, literature and medicine.

“Distinguished Arab minds are able to enrich and revive our scientific and civilised contribution to the world,” Sheikh Mohammed tweeted.

The Great Arab Minds initiative was launched b Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, in 2022.

The initiative’s mission is to search for exceptional Arab talents – scientists, thinkers, and innovators across key fields, aiming to identify, support and acknowledge leading thinkers in the region, amplify their impact and inspire future generations.

The two leaders discussed opportunities to expand ties between their nations.

Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, held talks with Romanian President Klaus Iohannis on Tuesday.

The two leaders discussed opportunities to expand ties between their nations across trade, the economy, renewable energy, sustainability and food security.

They also reviewed regional and international issues during the meeting.

Mr Iohannis praised the positive role played by the Emirates on the global stage.

“During my meeting today with the visiting Romanian President, we discussed the overall relations, and agreed on the importance of developing communication between the two countries in all sectors,” Sheikh Mohammed wrote on Twitter.

The meeting was attended by a number of senior ministers and figures including Sheikh Maktoum bin Mohammed, Deputy Ruler of Dubai and Deputy Prime Minister and Minister of Finance; Sheikh Ahmed bin Saeed, chairman and chief executive of Emirates Airline, Reem Al Hashimy, Minister of State for International Co-operation; Mariam Al Mheiri, Minister of Climate Change and the Environment, and Mohammed Al Gergawi, Minister of Cabinet Affairs.

President Sheikh Mohamed hosted the Romanian leader on Monday as part of his tour.

Mr Iohannis and first lady Carmen Iohannis were welcomed by a guard of honour and a 21-gun salute at Qasr Al Watan in the UAE capital.

UAE leaders typically offer an amnesty to hundreds of inmates each year.

Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, has pardoned 971 prisoners on the occasion of Ramadan.

The humanitarian gesture will give the inmates from Dubai’s correctional and punitive establishments a second chance in life and help strengthen family ties.

UAE leaders typically offer amnesty to hundreds of inmates each year in keeping with the generous spirit of the holy month.

Sheikh Dr Sultan bin Muhammad Al Qasimi, Ruler of Sharjah, ordered the release of 399 inmates.

Sheikh Saud bin Saqr Al Qasimi, Ruler of Ras Al Khaimah, pardoned 338 inmates.

Sheikh Hamad bin Mohammed Al Sharqi, Ruler of Fujairah, ordered the release of 151 prisoners who have a proven track record of good conduct.

Sheikh Humaid bin Rashid Al Nuaimi, Ruler of Ajman, approved the release of 135 prisoners who had demonstrated good conduct.

Sheikh Saud bin Rashid Al Mualla, Ruler of Umm Al Quwain, ordered the release of a number of prisoners from punitive and corrective institutions in the emirate.

On Tuesday, President Sheikh Mohamed pardoned 1,025 prisoners before the start of Ramadan.

Pardon lists

The humanitarian gesture to release prisoners ahead of Ramadan, also made during other religious festivals and national events, aims to reward prisoners who have sought rehabilitation and release a burden from the shoulders of their families.

Proposed pardon lists comprising names of inmates whose crimes are less serious, often financial offences, are prepared by prisons in each emirate and shared with prosecutors.

Based on orders from the attorney general in each emirate, the lists are revised and compared with the case files of each inmate before being finalised.

After being approved by the attorney general, the list would then be forwarded to the respective ruler’s court, where a decision is issued on their release.

Who could be eligible?

Those eligible for pardon must have served a portion of their sentence — a specific period is not dictated — demonstrated good conduct, have not been covered by previous pardon decisions and have participated in rehabilitation and reform programmes carried out by the correctional institutions.

Prisoners whose debts are not settled as part of their release must first clear any financial obligations.

If they are incapable of paying the sum, their cases will be shared with approved charities to help pay off their debts and help them return to their families.

Inmates who were sentenced to deportation after completing their terms will be deported after a pardon.

Saif Ben Sulayem had followed his father’s footsteps into motor racing.

Sheikh Ahmed bin Mohammed, chairman of Dubai Media Council, on Thursday offered his condolences to FIA President Mohammed Ben Sulayem following the death of his son Saif.

Saif Ben Sulayem had followed his father’s footsteps into motor racing and competed in the inaugural 2016-17 UAE Formula 4 series that included current Formula One rookies Oscar Piastri and Logan Sargeant, recording a number of top 10 finishes that season.

His father Mohammed, a 14-time Middle East Rally Champion, was appointed FIA President in December 2021.