The DFSA Begins Engagement With Firms Selected For Its Tokenisation Regulatory Sandbox, Reinforcing Its Commitment To Responsible Innovation In The DIFC – Dubai Blog
The Dubai Financial Services Authority (DFSA), the independent regulator of the Dubai International Financial Centre (DIFC), today announced the next phase of its Tokenisation Regulatory Sandbox, beginning engagement with firms selected to join its Innovation Testing Licence programme – the DFSA’s regulatory sandbox that allows entities to test innovative financial products and services under a controlled environment. The DFSA continues to differentiate itself through initiatives that support innovation across the FinTech ecosystem. The Authority launched its Innovation Testing Licence in 2017, and remains focused on building an adaptive, forward-looking market that is aligned with the emerging needs of ...
ICCI urges rationalisation of taxes
ISLAMABAD: Islamabad Chamber of Commerce and Industry (ICCI) President Sheikh Amir Waheed has urged the government to reduce taxes on the real estate sector so that it can spur economic development.His remarks came as he addressed a delegation of Islamabad Estate Agents Association (IEAA).Waheed said that the real estate sector is vital in promoting industry, and employment but imposition of taxes has badly affected its growth.“The growth of about 250 ancillary industries including cement, steel, brick, timber and building material is linked with the real estate sector,” he remarked.Key reforms for Pakistan’s real estate sector hit a snag“However, ...
RTA Reducing Vehicle Licensing Services By 74% To 14 Services – Dubai Blog
Dubai’s Roads and Transport Authority (RTA) has consolidated vehicle licensing services, reducing the total number from 54 to 14 services, resulting in a drop of 74%. This step is part of the ongoing efforts to provide a unified and integrated digital experience that is seamless, secure, and focused on enhancing customer happiness. It aligns with the Government of Dubai’s drive to deliver public services that meet customer expectations and improve the quality of life across the emirate. Ahmed Mahboob, CEO of the Licensing Agency at RTA, stated, “This step is part of the ‘360 Comprehensive Services’ plan – ...
Real Estate Authority termed imperative for allottees’ rights
ISLAMABAD: A panel of senators has stressed the importance of swiftly setting up a Real Estate Authority in the federal capital to help protect the rights of land allottees.This was stated in a meeting of the Senate Standing Committee on Capital Administration was held under the chair of Senator Dr Ashok Kumar at the Parliament House on Monday.During the meeting, Senator Mohsin Aziz of the Pakistan Tehreek-e-Insaf (PTI) reviewed the Real Estate Bill and asserted that establishment of a Real Estate Authority was imperative to protect allottees’ rights.To elaborate his point, he said that residents of the capital ...
Al Nasr, Barcelona, Empire Excel At Dubai Summer Open – Dubai Blog
The Dubai Summer Open for Football Academies, the largest tournament of its kind in the region, concluded with great success with Barcelona and Empire FC Blue hogging the limelight. Organised by the Dubai Sports Council and the UAE Football Association, in cooperation with Delta Sports Events – the tournament’s operational partner – the football extravaganza for juniors aims to enhance the Council’s efforts to attract and develop emerging sports talent, while implementing its policy that was launched in implementing the Dubai Government’s directives to attract and develop talent in all disciplines. More than 12,000 male and female players, ...
Booming real estate sector contributes just Rs23 billion in taxes
ISLAMABAD: The tax contribution by Pakistan’s booming realty sector, where most of the untaxed money is parked, stood at only Rs23 billion or less than 0.1% of the size of national economy in the previous fiscal year.To tackle such challenges posed by a weak tax administration and a culture of tax evasion, the Pakistan Tehreek-e-Insaf (PTI) government may appoint the Federal Board of Revenue’s (FBR) chairman from the private sector.The realty sector, where huge black money is parked, paid slightly over Rs23 billion in the last fiscal year 2017-18. This included tax collection under an amnesty scheme for ...
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