EmCash: Dubai’s Very Own Cryptocurrency
The way people live and do business in Dubai is to forever change in the next couple of months. Laid by the Department of Economic Development in Dubai and in partnership with one of its subsidiaries Emcredit Limited and the U.K based company Object Tech Group Ltd. “Emcash” Dubai’s very own first blockchain based cryptocurrency has been launched earlier this week. EmCash works as part of a payment channel called EmWallet which will be used to handle all types of transactions starting with your morning coffee and groceries to paying utility bills and education fees for your children, in addition to using Near Field Communication (NFC) for money transfers supported through the use of smartphones. Among the many advantages, residents of Dubai will get to avail through this digital currency is a faster processing time, improved delivery time, less complexity and an even lesser cost.
UAE begins online registration for VAT
It’s getting closer by the day and before we know it, it’ll be already here. The Federal Tax Authority had officially opened registration doors and instructed businesses with an annual turnover of over Dh150 million to register for the 2018 VAT before their deadline on October 31, 2017. Businesses with an annual turnover exceeding Dh10 million can relax for now with a deadline before November 30, 2017, to register. FTA’s website will allow the registration process for all business that the new taxation will be applicable on. Eventually, all businesses must be enlisted and registered before January 1st, 2018 and as a precautionary action to avoid any delays their registration applications should be submitted before the 4th of December 2017 to minimise the risk of delay.
Now, pay your electricity, water bills at UAE Exchange
When you think it can’t get any easier doing things in Dubai, think again. UAE Exchange, a money transfer, foreign exchange and payment solutions brand, has partnered up with the Federal Electricity and Water Authority (FEWA) in a strategic alliance to make your life a lot whole more convenient. A cash collection service for bill payments to the utility provider has been launched in the UAE, offering customers easy cash payment solutions for outstanding FEWA bills at all 150 UAE Exchange branches throughout the UAE. Customers can now enquire their outstanding bill amount and make cash payments to settle their FEWA dues, with the payments being instantly updated on FEWA’s system.