Friday 4 September 2015
 
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Ministry of Finance

VAT plans delayed by disagreement in region: UAE

The United Arab Emirates is still studying a proposal to impose a value-added tax but introduction has been delayed by a lack of agreement among neighbouring states on rates and exemptions, the Ministry of Finance said on Tuesday.

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Saudi sukuk issuance hits $10.5bn in 2012

Saudi Arabia issued $10.5 billion in sukuk in 2012, representing a 278 percent year-on-year increase, positioning the kingdom as the second major global issuer of sukuk after Malaysia, according to a new Kuwait Finance House report.

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UAE, Serbia pact to avoid double taxation

The UAE and the Republic of Serbia signed an agreement yesterday to avoid double taxation on income between both countries at the headquarters of the Ministry of Finance in Abu Dhabi. The agreement was signed by Obaid Humaid Al Ta

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MoF launches new budgeting system

The Ministry of Finance (MoF) has announced the launch of an automated budgeting system for independent federal entities in Abu Dhabi, in a bid to ensure the best use and development of federal government resources. This is in lin

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UAE, Fiji in pact to remove double taxation

The UAE and the Republic of Fiji signed a final agreement to eliminate double taxation on income, in a move aimed at bolstering economic ties and enhance trade development between the two countries. The agreement was signed by Younis Ha

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GCC property deals in UAE up 32pc

Registered property contracts of GCC nationals in the UAE increased by 32 per cent amounting to 44,902 contracts in 2011 compared to 34,029 contracts in 2010, said a report. The annual statistical report on the Gulf Common Market

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Finance Ministry holds staff workshop

The Ministry of Finance (MoF) recently organised a workshop for its staff on the importance of rationalising energy consumption, in line with its continuous efforts to aid in reducing environmental hazards and preserving UAE’s resources. T

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UAE agencies link with govt finance system

UAE’s Ministry of Finance recently signed two cooperation agreements calling for linking the electronic financial system of the government with the UAE National Council for Tourism and Antiques and the Marriage Fund. These agreements, sign

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Credit Bureau work plan discussed

The operating structure and the main work plan for the UAE’s Federal Credit Bureau were discussed at a meeting of its board recently. The first meeting of the board was held at the Ministry of Finance’s (MoF) headquarters in Abu Dhabi.

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UAE to implement salary hikes for govt staff

UAE’s Ministry of Finance (MoF) recently announced that it is working on increasing salaries of employees in the federal government sector and increasing social aid and wages granted to retirees. This is in line with the decision issued by

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