Confusion and changes to the Brazilian State Goods and Services Tax (ICMS) in early 2022: how a ruling by the Supreme Court created a new and unconstitutional law in Brazil
As many readers may know, taxes are not straightforward anywhere in the world but this is particularly true in Brazil and even more so when one looks at Brazil´s indirect taxation on sales and goods, the “Imposto sobre Operações relativas à Circulação de Mercadorias e sobre Prestações de Serviços de Transporte Interestadual e Intermunicipal e …
Secured Overnight Financing Rate (“SOFR”) in Arrears or Term?
Background SOFR is a risk-free reference rate (“RFR”) selected as the rate for usage in certain United States Dollar (“USD”) derivatives and other financial contracts, by the Alternative Reference Rates Committee (“ARRC”) of the Federal Reserve Bank of New York (“NY Fed”) in the year 2017. It is the preferred alternative to USD LIBOR.
What Are the New Laws for Donations & Charity Funds in The UAE?
The United Arab Emirates has revamped its laws relating to charitable donations and funds constitution. The new law, namely, the Federal Law No. 3 of 2021 concerning the Regulations of Fundraising and Donations (the ‘new law’), aims to regulate all charity funds and imposes restrictions and stricter control measures. For instance, the new law imposes …
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What are the consequences of breaching a non-disclosure agreement between private entities in the UAE?
In simple terms, a non-disclosure agreement (commonly referred to as an ‘NDA’) constitutes a written agreement between two parties or entities, wherein one party prohibits the other from sharing any confidential information exchanged between them, or such prohibition can be mutually applicable to both the parties. In essence, thus, an NDA protects confidential information from …
Spreading False Information on Social Media and its Penalties
The United Arab Emirates has enacted the federal degree law number 34 of 2021 concerning the fight against rumors and cybercrime. The said law was issued on 20 September 2021 and is in effect from 2 January 2022. It seeks to prohibit the use of the Internet to publish, circulate or spread false news, rumors …
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Construction Contract in the UAE: All You Need to Know
Of all the different types of intellectual property rights such as copyrights, trademarks, designs etc., no other intellectual property right signifies ‘innovations’ as ‘patents’ do. In fact, a patent signifies an exclusive right granted to an inventor by the government to the exclusion of all others (including the government) to profit by making, selling or …
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Bringing your pet to the UAE? Here are a few legal guidelines.
With the advent of the covid-19 epidemic, the world governments, including the United Arab Emirates, has taken a stricter approach to health and safety. Some of these measures include the introduction of new policies concerning the relocation of pets into the UAE. For instance, the UAE Ministry of Climate Change & Environment (MOCCAE) has added …
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How is the gratuity calculated after leaving the job from Feb 2 onwards?
The United Arab Emirates has issued the new Federal Decree-Law No. 33/2021 on Regulation of Labor Relations (the “new labor law”), which repeals the long-held Federal Law number 8 of 1980. The new labor law has been implemented with the twin objectives of ensuring the efficiency of the UAE’s employment sector by retaining its allure …
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How Do You Do a Patent Search in The UAE?
Of all the different types of intellectual property rights such as copyrights, trademarks, designs etc., no other intellectual property right signifies ‘innovations’ as ‘patents’ do. In fact, a patent signifies an exclusive right granted to an inventor by the government to the exclusion of all others (including the government) to profit by making, selling or …
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All You Need to Know About Law Updates On Using Drones in The UAE
The Ministry of Interior (MOI) of the United Arab Emirates has recently introduced a complete ban on the use of drones and light sports aircraft in the UAE. The ban applies to owners, practitioners as well enthusiasts of drones and applies to both air and sailing spots. The new rules have been introduced in coordination …
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