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VAT on insurance
Be prepared to shell out that extra buck by way of Value Added Tax (VAT) in the UAE from January 1, 2018. VAT, a consumer-based tax on the supply of goods and services, will have to be borne by the consumers, like sales tax in other countries.VAT, a consumer-based tax on the supply of goods and services, will have to be borne by the consumers, like sales tax in other countries. The exempted categories are education, healthcare and certain food items. As per available information, no VAT will be payable on nursery school, pre-school, elementary school and government-funded university fees as these will be zero-rated. Non-government funded university fees ...

uae makes commercial drone insurance mandatory
Commercial drone operations in the UAE have been brought under strict regulatory guidelines. The new guidelines makes it mandatory for all commercial unmanned aerial vehicles (UAVs) to obtain insurance coverage in an effort to protect both the operator and the companies hiring the facility as well as other parties exposed to risks brought about due to the operation of the UAV. Commercial drone operations in the UAE have been brought under strict regulatory guidelines. The new guidelines makes it mandatory for all commercial unmanned aerial vehicles (UAVs) to obtain insurance coverage in an effort to protect both the operator and the companies hiring the facility as well as other parties ...

Tour on cyber liability
For today’s businesses, the Internet represents a critical piece in operations, from e-commerce to information delivery and data storage. While reliance on digital devices brings many benefits, it also exposes the business to risk related to cyber ransoms, network damage, theft of personal and corporate information, and copyright infringement, etc. These liability issues don’t just impact an organization’s financial situation, but can harm its reputation, brand and image, as well. A recent cyber attack that you would be aware of is the WannaCry Ransomware attack, which claimed 200,000 victims in 150+ countries, has been the talking note throughout the globe. This is not the only attack in the recent ...

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