Tag Archives: shareholders

Tick, Tick: MVLs- a ticking time bomb?

Due to the introduction of new tax legislation on 6th April 2016, distributions made to shareholders of companies undergoing Members’ Voluntary Liquidation (MVL) are now treated as income (rather than capital) and are taxed accordingly. The result is that the tax rate on MVL proceeds has shot up to a staggering 28%, as detailed in our previous article. For distributions to … Continue Reading

Directors’ Liability in the Event of Insolvency in the United Arab Emirates

The duties and obligations of directors in the United Arab Emirates (UAE) are drawn from various legislative sources; there is no consolidated legislative framework dealing with the duties and obligations of directors under UAE Law. Squire Patton Boggs’ Dubai office have published a summary of the principal duties and liabilities of a director in the  UAE, … Continue Reading
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