Federal Decree-Law No. 31/2021 On the Issuance of the Crimes and Penalties Law regulates and imposes penalties for the crimes of theft and fraud committed within the United Arab Emirates (UAE).

Federal Decree-Law No. 8/2017 On Value Added Tax governs the procedures for taxation within the country and the penalties for tax evasion.

Fraud is the offence of deceiving someone into acquiring their movable or immovable assets through fraudulent means. Elements of this crime primarily involve persuading the victim to deliver or surrender their assets. While deception is a significant element in the crime of fraud, it is not enough to establish guilt.

Theft is a very comprehensive crime and the penalties imposed on the accused mostly depend upon the gravity of the offence and the circumstances of the case.

In accordance with Federal Decree-Law No. 8/2017, every business should maintain proper accounting records and books to determine the adequate tax payable to the authorities. However, a company that fails to maintain books of accounts in order to avoid or evade tax, will face penalties as stipulated by Federal Decree-Law No. 8/2017.

• VAT: Value added tax.