Corporate tax in the UAE
In January 2022, the Ministry of Finance (Ministry) of the United Arab Emirates (UAE) announced its intention to…
The UK government made additional amendments to its Russia Regulations on March 30th 2022. On this day, the Russia (Sanctions) (EU Exit) (Amendment) (No.7) Regulations 2022 were announced, imposing additional amendments to the Russia (Sanctions) (EU Exit) Regulations 2019.
One new measure involves implication of designations by description. The new amendment grants the Secretary of State the authority to provide that individuals of a particular description are designated persons, an authority which will allow the UK government to jointly designate individuals that are members of a group, rather than identifying them be name. The consequences of such designation mirror those of designation be name, therefore persons designated by description may be subject to aircraft, shipping and financial sanctions.
Another prohibition involves the provision of technical assistance relating to ships and aircrafts. Under this measure, such assistance, whether provided directly or indirectly in connection to a ship or an aircraft for the benefit of, or to, a designated person, is prohibited. Furthermore, the new amendment also widened existing shipping, trade and financial sanctions relating to Crimea to the separatist regions of Luhansk and Donetsk. The amendment also extended the relevant licensing provision and exceptions to there regions. More information on the measures imposed by the UK on March 30th 2022 can be found here.