President issues Decree-laws on FDI, revenues
Licensed foreign investment companies shall - in accordance with Article 8 of the Decree-law - be granted the same treatment as national companies, within the limits permitted by the legislation in force in the state and the international conventions to which the UAE is a party.
Article 10 of the Decree-law stipulates that the licensing authority and the responsible authority shall determinethe conditions and procedures for the establishment and licensing off di projects based on the listed required documents of the Decree-law, and the laws of the country.
Foreign direct investment projects which exist before the provisions of this Decree-law entry into force shall retain all the privileges given in accordance with former legislations, agreements and contracts within the specified period.
President His Highness Sheikh Khalifa Bin Zayed Al Nahyan, has issued a Federal Decree-law No. 15 of 2018 concerning the collection of revenues and public funds with the aim of accelerating the procedures for the claim, execution, settlement and collection of debt.
According to the provisions of Article 3 of the Decree-law, income and public funds impacted by the Law include taxes, duties and wages in matters of state jurisdiction and the ines and fees paid to the state for the services it provides, as well as administrative ines and compensations awarded under the provisions of federal laws.
According to the same article, revenues also include those from state investments, amounts due in respect of sale, rent, ownership or use of public funds, the proceeds of investment certiicates issued by the state, loans owed to the state, and any other funds listed by special laws in accordance with the provisions of this Decree or by a decision of the UAE Cabinet.
According to the Federal Decreelaw - which was published in the latest issue of the Oficial Gazette - the organisation al body responsible for the collection of debt in accordance with the provisions of this Decree shall be determined by a decision from the Minister of Finance.