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IMPORTANT UPDATE RELATED TO RESIDENTS…
Every year, the UAE makes major changes to its laws to make it easier for residents to enjoy life in Dubai. From non-sharia-compliant marriages to mandatory unemployment insurance, here are four new regulations coming in 2023 that you should know about:
Involuntary Unemployment Program
this Involuntary Unemployment (ILOE) Program Effective January 1, 2023, it is a form of social security that will provide workers with compensation for up to three months if they lose their job.
The scheme is applicable to all Emirati and foreign workers in the private and public sectors. Employees working in free zones are exempt from tax. There is a six month grace period (until Friday 30 June 2023) to subscribe to the ILOE.
The compensation is calculated up to 60% of the employee’s salary.
according to Cabinet Resolution No. 97 of 2022, UAE employees who fail to enroll within the grace period will be fined AED 400, or AED 200 if the insured fails to pay the required insurance premiums for more than three months.
Learn how to register here: Everything you need to know about the UAE Unemployment Insurance Scheme
Remove 30% tax from alcohol
From Sunday 1 January 2023 the 30% tax will be Removed from all alcohol purchases in Dubai by 2023. Liquor stores MMI and African and Eastern both confirmed the news to their customers, saying the 30 per cent tax would not be included in their prices.
alcohol license It’s also available for free starting Sunday, January 1. Those wishing to apply will only need their resident Emirates ID or tourist passport.
Major Updates to Marriage Law
this New Federal Personal Status Law Non-Muslim couples are allowed to marry in non-Shariah legal procedures. Since February 2022, non-Muslim couples in Abu Dhabi can tie the knot in civil court, in a manner similar to registry weddings in the UK or Europe. This will become UAE-wide law from February 2023.
Under the new Act, either spouse can now ask the court to terminate the marriage without proving fault of one of the spouses or the necessity of the termination. Divorce is possible after one hearing and does not require family guidance counseling or previously required meditation sessions.
If the divorced couple has children, joint and equal custody of the children is automatically granted until the children reach the age of 18. If there is a custody dispute, the court can take further action and intervene, always considering the best interests of the child or children. If witness testimony is required, the testimony of women is the same as that of men.
The new law will allow non-Muslims to register wills at the same time as their marriage licenses, which will allow them to give their property to whoever they want.
new corporate tax law
Businesses will be subject to the Corporate Tax Act, which will impose a standard rate of 9% on taxable corporate profits exceeding AED 375,000 commencing the first financial year commencing on or after 1 June 2023https://t.co/ezraMp36V8#corporate tax #UAECT pic.twitter.com/KVQgc5CDIT
— Ministry of Finance | UAE (@MOFUAE) December 9, 2022
Effective for fiscal years beginning on or after June 2023, Businesses in UAE to pay corporate tax, which would be subject to the standard rate of 9% on taxable profits over Dhs375,000. Profits up to this threshold will be taxed at zero rate to support small businesses and start-ups.
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