18 Oct
UAE: Can Indian expats get PAN, Aadhaar cards while in the Emirates?
An expert explains the process in detail and what can and cannot be done online, and which procedures require NRI’s to travel to India
If you are an Indian living in the UAE, you may be wondering whether or not you can apply for a PAN Card from the Emirates, or if you can apply for a new Aadhaar card or update your old Aadhaar card while still living overseas.
Deepak Bansal, from AskPankaj Tax Advisors, UAE, explains the process in detail and what can and cannot be done online.
Can you apply for PAN Card from the UAE? What is the process for PAN card application?
Yes, foreign citizens and non-resident Indians (NRI) have the option to apply for an amendment, or a new Permanent Account Number (PAN), from outside India. The application can be made online at https://www.protean-tinpan.com
The applicant needs to fill in an online form (Form 49AA from the above website) with their personal details, including a valid phone number and email id along with proof of identity and address such as passport, OCI card or PIO card. For such documents, no further attestation of these documents is required.
However, if an applicant is submitting foreign citizenship card or tax identification number, it should be duly ‘apostilled’ or certified by Indian embassy or by an authorised officer of an Indian bank having a branch abroad.
The applicant has an option to mention their overseas address for the delivery of PAN Card by paying the additional cost of international postage/delivery.
If the applicant holds an Aadhaar card or an India-issued digital signature, the form can be submitted online in a paperless manner. Alternatively, the applicant has an option to send the signed form through post/courier to the tax authorities in India.
Can you apply for an Aadhaar card from the UAE?
NRI expats in Dubai can also begin the process to apply for Aadhaar card online, but they would have to travel to India for the appointment. The card will only be issued after this.
What is the process for applying for a new Aadhar card?
The Aadhaar card is similar to the Emirates ID used in the UAE. As the Aadhaar card contains biometric details, it needs to be applied for by physically visiting a government facility (Aadhaar centre) in India.
It is important to note that earlier only local residents (people who stay for at least 180 days in India) were eligible to apply for Aadhaar. However, since September 2019, NRIs are also allowed to apply for Aadhaar card upon their arrival in India. NRIs should note that they can pre-book an appointment at the Aadhar centre in advance even before travelling. Further, if their passport does not have a valid Indian address, NRIs will need to submit other prescribed documents.
To initiate the process to apply for Aadhaar cards online, one needs to set up the appointment for a convenient date using the official UIDAI website.
What does one do for Aadhaar amendment?
A person can update his/her address online. However, for any other details such as name, date of birth, mobile number, email etc, or the biometrics details, the Aadhaar holder will need to physically visit an Aadhaar centre.
Source:https://www.khaleejtimes.com/uae/uae-can-indian-expats-get-pan-aadhaar-cards-while-in-the-emirates
01 Sep
GCC could fast-track its sustainability goals with data driven ESG reporting
A systematic data-driven framework can help organizations in the GCC to reduce waste
Sustainability reporting can enable organizations in the middle east to reduce risk across their supply chains by improving their decision-making processes. Protiviti Member Firm for the Middle East Region has emphasized on the importance of data driven environmental, social, and governance (ESG) reporting to fast-track the region’s sustainability goals. The leading consulting firm in the region stated that a systematic data-driven framework will be equipped to help organizations in the GCC to reduce waste and also yield significant cost savings in the near future.
Furthermore, the two major global meetings, namely United Nations Climate Change Conference 2022 (COP27) in Egypt and COP28 in UAE, will place environment, social, and governance challenges high on the region’s agenda.
“Countries in the GCC currently have either implemented or are in the process of transitioning towards improved sustainability disclosure. Sustainability presents multi-dimensional and complex challenges, with varying levels of understanding across industries and organizations,” says Arindam De, Deputy CEO and Managing Director, Protiviti Member Firm for the Middle East Region.
“At Protiviti, we work closely with the industry stakeholders to effectively evaluate what ESG means for an organization, helping build, implement, execute, monitor, and report on ESG objectives that will evolve and grow with the organization. We help organizations in the GCC to understand the bigger picture, and to clearly identify where they can make a larger impact on society and the environment while maximizing performance”.
ESG reporting is garnering growing attention today, particularly among the decision makers within the public and private sectors seeking to understand and possibly comply with specific requirements in their country or their industry.
“However, when it comes to ESG reporting, there are several questions that need solid responses. Questions such as who is specifically required to issue these ESG reports or who is issuing them voluntarily and more importantly, what do organizations need in order to issue them in terms of data and operational processes are some of the prominent ones that need immediate attention,” says De.
A well-defined structure of sustainability reporting can enable organizations in GCC to measure and monitor performance against established economic, environmental, social, and governance goals. Furthermore, transparency leads to improved decision-making, more effective communication with external stakeholders, and enhanced ESG health of an organization.
“ESG reporting is not a marketing campaign but as important as the mandatory financial reporting with proper accountability. It has to be completely data-driven, only then can organizations evaluate, monitor, and achieve the progress made towards their sustainability goals. It is also important for the organisation’s internal stakeholders to comprehend the importance of ESG reporting and only then can an organization as a consolidated unit – move forward,” adds De.
“At a recent webinar conducted by Protiviti earlier this year, out of 300 plus global attendees, we observed that close to 44% of them have not started deploying a framework to capture data through IoT (Internet-of-Things), 37% of the respondents were not aware of an ESG report being published by their organization, only 36% have the primary responsibility of ESG reporting and assigned to an ESG Committee and 34% respondents stated that they are planning to increase budget in all areas of ESG. So, there is a lot of ground that organizations across the Middle East region and globally need to cover to reach closer to their sustainability goals,” explains De.
“Sustainability continues to evolve as companies recognize the value of supporting ESG issues to survive in the marketplace. Sustainability defines an organization, setting it apart from its competitors while impacting the whole organization in varying ways and intensities. However, while many companies are aware they must act, they find it difficult to strategically tackle the issue,” De says.
Source:https://gulfnews.com/business/corporate-news/gcc-could-fast-track-its-sustainability-goals-with-data-driven-esg-reporting-1.1661847047039
31 Jul
UAE trademarks law a key pillar to ensure safe IP environment
The new laws allow greater flexibility to accommodate unconventional trademark patterns and provide them with legal protection, in light of the advanced technologies used in building companies’ trademarks
The UAE has been taking significant efforts in promoting the system of intellectual property (IP) and copyrights, with trademarks as a key pillar, Abdulaziz Alnuaimi, assistant undersecretary of the Commercial Affairs Regulation Sector at the Ministry of Economy, said on Thursday.
He noted that the UAE has therefore issued a set of legislations and laws to support trademark owners to ensure their growth and prosperity within a secure and safe environment. The new laws, introduced in 2021 as part of the “Year of the 50th” celebrating the fiftieth anniversary of the foundation of UAE, and made effective as of 2 January 2022, are intended to keep pace with the developmental achievements of the UAE and reflect the country’s aspiration as an R&D and innovation hub.
The laws, which establish major rules for trademark owners within a barrier-free environment that promotes creativity and innovation, raised certain fines up to Dh1 million in order to put a stop to trademark infringement.
“These efforts emphasize the significant role of this sector in encouraging creativity and its contribution to building the country’s new economic model based on knowledge and innovation, and in line with the goals and principles of the 50 and the UAE Centennial 2071,” Alnuaimi said at a media briefing.
He said the new regulation reflects an exceptional integration of efforts between the ministry and its local and federal partners, as well as global entities concerned with the IP sector.
“The collaboration guarantees the country’s adherence to international best practices in this regard, thereby stimulating FDI flows and attracting international companies to relocate to the UAE by guaranteeing a highly conducive working environment. This, in turn, strengthens the UAE’s position as a favored destination for innovators and creators, thus promoting its leadership in global competitiveness indexes for IP protection,” Alnuaimi said.
He pointed out that the new laws allow greater flexibility to accommodate unconventional trademark patterns and provide them with legal protection, in light of the advanced technologies used in building companies’ trademarks.
“This shows how the UAE is keeping pace with international developments in the field, consolidating its position among the countries with advanced, innovative trademark protection.”
According to experts, fines have been increased to between Dh100,000 and Dh1 million for the following offences: forgery or counterfeiting; knowingly using a forged or counterfeit trademark; using in bad faith a trademark owned by another; possession of material for the imitation or counterfeit of a registered trademark; and importing or exporting of counterfeit products. A reduced fine of Dh50,000 — Dh200,000 applies to the sale or possession of counterfeit products and the use of an unregistered trademark in a manner to suggest that it has been registered. This is a stark contrast from the Repealed Trademark Law which set minimum fines at Dh5,000, according to experts.
“Article 39 of the amended copy rights law increases the potential fines for copyright infringement from a maximum of Dh50,000 to Dh100,000 (previous penalty was Dh10,000 – Dh50,000 under the Repealed Copyright Law). Article 40 also introduces new more severe penalties for (a) manufacturing or importing counterfeit works; (b) disrupting or impairing electronic data aiming at managing copyrights; and (c) downloading or storing computer programmes, applications or databases without a licence from the author or rightsholder. Such offences now carry a minimum imprisonment of 6 months and/or a fine of between Dh100,000 — Dh700,000 (previous penalty was minimum three months imprisonment and fine of Dh 50,000 — Dh 500,000 under the Repealed Copyright Law,” say experts.
Higher penalties apply to reoffenders, copyrights law experts pointed out. The increased penalty for downloading computer programmes without a licence is something that, in particular, enterprise software users should be aware of. Interpreted literally, businesses who exceed their licence permissions/metrics in software licence agreements are potentially committing a crime under the Copyright Law and could face significant fines or imprisonment (without prejudice to other contractual remedies that the software licensor may wish to pursue). Enterprise software licences can be complicated to negotiate and interpret and it is important that businesses procuring software licences understand their usage entitlements and obtain sufficient legal and technical advice, according to legal experts.
08 Jun
How to file an application for corporate tax on free zones businesses
Each free zone has its own framework. Based on these frameworks, the income of the free zone persons will not be subject to corporate tax for a specific period
Free Zones are a crucial part of the UAE economy and have a key role to attract foreign investment that plays a pivotal role in the development of the country. Keeping in view the importance of the free zones special rules have been proposed in the corporate tax (CT) public consultation document for the businesses registered in the free zones (hereinafter referred to as ‘free zones persons’).
Each free zone has its own framework. Based on these frameworks, the income of the free zone persons will not be subject to corporate tax for a specific period. According to the consultation document, the CT regime will honor the tax incentives being offered to the free zone persons subject to the condition that free zone persons maintain adequate substance and comply with all regulatory requirements.
To understand the proposed application of CT on the free zone persons, we have considered all possible options and classified the transactions into the following four categories.
Income from businesses in the rest of the world
It has been proposed in the consultation document that the income earned from transactions with businesses located outside of the UAE will be subject to zero per cent corporate tax. The consultation document is silent about the income earned from transactions with individuals located out of the UAE, which we believe will be subject to the same zero per cent corporate tax.
Income from businesses in the same free zone
The consultation document highlights that the income earned from trading with businesses located in the same free zones will be subject to zero per cent corporate tax. The document is silent about the income earned from transactions with individuals located in the same free zones, which we believe will be subject to the same zero per cent corporate tax, but we will have to wait for the law for further clarification regarding this.
If the free zone person is located in the designated zone for value-added tax (VAT) purposes and selling goods to the mainland person on INCO term where delivery of the goods is being given in the designated zone and the mainland party is clearing the goods in its own import code, still designated zone person can benefit from the zero per cent corporate tax.
Income from the persons in other free zones
The consultation document is clear about the proposed application of the corporate tax on the income earned from persons located in other free zones, and these transactions will be subject to zero per cent corporate tax.
Income from persons on the mainland
Free zone persons may have transactions with persons located on the UAE mainland. It is clearly stated in the consultation document that if the mainland entity and free zone person are part of the same CT group, then income earned by the free zone persons will be subject to zero per cent corporate tax. However, to ensure the CT neutrality of such transactions, payments made to the free zone person by a mainland group company will not be an allowable expense to calculate the taxable profits of the group.
If the mainland business and free zone person are not part of the same CT group, then the legal structure of the free zone person is critical. Like, if the free zone person has a branch on the mainland, then the income of the free zone person will be taxed at the regular CT rate on its mainland sourced income, whilst continuing to benefit from the zero per cent CT rate on its other income. However, if the free zone person has no branch on the mainland, then free zone person can continue to benefit from the zero per cent CT rate of its passive income from mainland persons. The passive income would include interest and royalties, dividends and capital gains from owning shares in mainland UAE companies.
Where a free zone person earns income from the mainland persons which is subject to a zero per cent CT rate, such income would be subject to a withholding tax of zero per cent.
Source:https://www.khaleejtimes.com/finance/how-to-file-an-application-for-corporate-tax-on-free-zones-businesses?_refresh=true
