Recently, the Dubai Chambers organized a series of four specialized workshops focused on various legal aspects and compliance regulations, aimed at equipping businesses with the necessary knowledge for thriving in Dubai’s business environment.
The workshops covered significant topics such as the Commercial Companies Law in the UAE, corporate compliance, UAE customs law, the unified customs law for GCC countries, and the challenges of compliance related to value-added tax and excise tax. These sessions attracted considerable interest, with approximately 600 participants from the private sector.
The first workshop, in collaboration with EY Law, concentrated on the UAE Commercial Companies Law and the Dubai International Financial Centre (DIFC) Companies Law. It provided a comprehensive overview of the responsibilities of board members, principles of corporate governance, and key risk areas related to legal non-compliance for local companies and those in the DIFC. Attendees gained valuable insights and strategies for risk mitigation, adopting good governance practices, and ensuring compliance with data protection regulations.
The second online workshop, held in partnership with the Corporate Compliance and Ethics Academy and Taqa, highlighted the essential elements of an effective compliance program, legal and regulatory risk aspects, and the role of compliance in preventing regulatory violations while enhancing business value.
The third workshop, conducted with Al Tamimi & Company law firm, dealt with UAE customs law and the unified customs law applicable across GCC countries. It provided an overview of the customs framework in the region and discussed crucial topics such as tariff structures, HS code classification, treatment of goods in free zones, and customs valuation methodologies.
The final event was an awareness workshop focused on compliance challenges related to value-added tax and excise tax, organized in collaboration with the Federal Tax Authority. It aimed to educate participants on the requirements and procedures of taxation and compliance concerning VAT and excise tax within the UAE’s tax framework.