 |
|
|
 |
|
| |
|
| Lowtax Network Sites |
| Lowtax Network Portal:
'Low-tax' business and investment in the top 50 jurisdictions covered in
exceptional detail. |
| Tax News: Global
tax news, continuously updated through the day. |
| Investors Offshore:
The independent offshore and alternative investment guide for expatriates
and the globally aware investor. Sponsored by HSBC
Bank International. |
| Law & Tax
News: Daily news and background data on tax and legal developments
for international business. |
| Offshore-e-com:
A topical guide to offshore e-commerce focused on tax and regulation. |
| Lowtax Library:
One of the web's largest and most authoritative business and investment
information sources. |
| US Tax Network:
The resource for free online US taxation information, covering: corporate
tax, individual tax, international tax, expatriates, sales and e-commerce
tax, investment tax. |
| Personal
Business Tax Guide: Providing essential tax news and information
on business for contractors, entrepreneurs, professionals, small businesses,
artists, sportspersons and entertainers. |
| Offshore Trusts
Guide: OTG publishes news, features and newsletters on the use of
offshore trust structures. |
| TreatyPro: Online
tax treaty resource. |
|
|
| UAE To Improve Bankruptcy Law |
by Lorys Charlambous, Tax-News.com, Cyprus
Monday, December 05, 2011
The United Arab Emirates Ministry for Finance is expected to approve legislation
that will introduce new rules with regard to bankruptcy and financial restructuring.
The legislation will broaden the scope of existing rules to cover individuals
- as well as investors and businesses, as is currently the case - and will include
individual and civil debt cases, and debt instances concerning professionals,
such as doctors and lawyers, among other occupations.
The legislation also updates a number of areas to modify existing rules. The
legislation stipulates what a debtor's obligations are regarding commercial
and non-commercial debt, and provides additional protections to uphold the rights
of both debtor and creditor.
In the case of corporates, the legislation provides new provisions on the restructuring
of companies and organizations, and aims to enable viable companies to gain
increased access to bank funding, on certain conditions.
Welcoming the advanced stage of negotiations towards the final legislation,
which has now been forwarded for the approval of the Ministry of Justice, Younis
Haji Al Khouri, the Undersecretary at the Ministry of Finance, said: “These
efforts have led to this initiative to develop a new law in this area; one that
is built on modern and advanced economic principles, and is distinguished from
previous laws in its efficiency and effectiveness.”
“The Ministry expects that the new, untraditional features incorporated
in this new law will aid in promoting growth in the UAE's economy as it will
allow for business that are facing financial hardships to work on restructuring
frameworks and on repaying their debt without decreasing their productivity.”
.
|
|
|
|
| THE LOWTAX LIBRARY
One of the web's largest and
most authoritative business and investment information sources. Alongside
topical, daily news on worldwide
tax developments, you can receive weekly newswires or
access up-to-date intelligence
reports on a range of legal, tax and investment subjects.
FREE TRIAL NEWS SUBSCRIPTION
Our 16 constantly updated
intelligence reports cover every important aspect of 'offshore' and international
tax-planning in depth, including banking secrecy, the EU's savings tax
directive, offshore funds, e-commerce, offshore gaming and transfer pricing.
Reports are available for immediate downloading or as subscription
services with news pages.
|
|
 |
|
LAWANDTAX-NEWS.COM
