United Arab Emirates: The Federal Supreme Court rules for the first time.
United Arab Emirates: The Federal Supreme Court rules for the first time in favor of taxpayers in one of the biggest tax cases in the UAE
The UAE Federal Supreme Court recently dismissed an appeal filed by the Federal Tax Authority against taxes and administrative fines and penalties imposed by the FTA against a UAE company, a Dubai-based beverage distributor, in connection with excise taxes. The court also ordered that the FTA repay the full amount of the penalties to the company. This was considered to be the first time the Federal Supreme Court issued a judgment in favor of a taxpayer and removed all taxes and administrative penalties levied by the FTA.
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UAE Federal Supreme Court rules in favour of Dubai firm in one of the biggest tax cases khaleejtimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from khaleejtimes.com Daily Mail and Mail on Sunday newspapers.
A recent ruling by the Dubai Courts has set a precedent on how courts interpret the SPA A recent ruling by the Dubai Courts in favour of a major real estate company in Dubai has set a precedent on how courts interpret sale and purchase agreements Image Credit: Supplied
A recent ruling by the Dubai Courts in favour of a major real estate company in Dubai has set a precedent on how courts interpret sale and purchase agreements (SPA). The dispute was raised by the buyer purchasing a private island in the UAE, claiming that he had discovered that the plot area was 50 per cent less than what was written in the SPA contract and that he was not aware of it.