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The free zone unveiled proposed changes to its Common Reporting Standard Law in August 2020 to improve reporting standards. It also enforced an amendment to the employment law that replaced gratuities with a workplace savings plan from February 1 last year. The DIFC has now tabled proposed changes to Employment Law No 2 of 2019. It will issue new regulations that “will provide further clarity in relation to the Qualifying Scheme regime and bring it in line with the Dubai Financial Services Authority’s employee money purchase scheme so that only a single layer of regulation is applied to these schemes”. The amendments also aim to address other areas of uncertainty by clarifying the statute of limitations on claims made under the employment law, the accrual of leave days and the duration of probation for short-term fixed-term contracts.

United arab emiratesDubai financial services authorityDubai international financial centreCommon reporting standard lawQualifying schemeInsolvency regulationsInsolvency lawOperating lawDeepthi nairPersonal financeஒன்றுபட்டது அரபு அமீரகங்கள்துபாய் நிதி சேவைகள் அதிகாரம்துபாய் சர்வதேச நிதி மையம்பொதுவானது புகாரளித்தல் தரநிலை சட்டம்தகுதி திட்டம்நொடித்துப்போனது ஒழுங்குமுறைகள்