FINTECH & LAW 1 : PAYMENT SYSTEMS

Fintech – the portmanteau of the words “Finance” and “Technology” is the buzzword in Finance and Technology worlds with a large number of newage startups disrupting legacy businesses of established financial institutions. Whilst great emphasis is laid on the Finance and Technology aspects of their startups, budding entrepreneurs fail to gauge the law / legal…

Legal Entity Identifier

A Legal Entity Identifier (or LEI), is a 20-character alpha-numeric string that is used to identify distinct legal entities that engage in financial transactions. The LEI is a global standard (ISO 17442), designed to be non-proprietary data that is freely accessible to all. Simply put, the publicly available LEI data pool can be regarded as…

Supply under the UAE VAT Law

In the VAT Law, the Taxable Event is the supply of goods or services within the tax jurisdiction and hence the importance of A.    What constitutes a supply of goods or services, B.    When (Time) of supply of goods or services, C.    Where (Place) of supply of goods or services, D.    Amount (Value) of supply…