Administrative Penalties for Violations related to Corporate Tax
Administrative Penalties for Violations related to Corporate Tax What is Corporate Tax in UAE? Corporate Tax is a type of direct tax imposed on the overall earnings of corporations and other enterprises. In some jurisdictions, it is alternatively known as “Corporate Income Tax” or “Business Profits Tax.” What are the penalties in Corporate Tax? Penalties […]
Progressive Tax Residency Rules for Natural Persons
UAE Ministry of Finance Introduces Progressive Tax Residency Rules for Natural Persons: Understanding the Center of Financial and Personal Interests The practical implementation of corporate tax on the specific situation outlined in the “Implementation of Certain Provisions of Cabinet Decision No. 85 of 2022 on Determination of Tax Residency” involves determining the tax residency status […]
Understanding VAT, Corporate Tax, and Excise Tax Penalties in the UAE
Understanding VAT, Corporate Tax, and Excise Tax Penalties in the UAE What is VAT? VAT, an indirect tax based on transactions, is applied at various stages of the supply chain. The burden of VAT cost is usually borne by end consumers, while registered businesses play the role of tax collectors, responsible for collecting and reporting […]
New Cabinet Decision Sets Corporate Tax Rates in UAE
New Cabinet Decision Sets Corporate Tax Rates in UAE On February 1, 2023, a new Cabinet Decision (No. 116 of 2022) took effect in the United Arab Emirates, determining the amount of annual income subject to corporate tax. The decision outlines tax rates and provides clarity on taxable income thresholds for businesses operating in the […]
How to register for Corporate Tax
How To Register For Corporate Tax In UAE Are you a business owner in the UAE looking to navigate the complex world of corporate tax? Look no further! Our step-by-step guide will walk you through the process of registering for corporate tax in the UAE, ensuring that you are fully compliant with the law and […]
Corporate Tax Deregistration Timeline in UAE
Understanding the Corporate Tax Deregistration Timeline for UAE Corporations and Businesses The Federal Tax Authority in the United Arab Emirates has issued Decision No. 6 of 2023, outlining the tax deregistration timeline for corporations and businesses. This decision provides clarity on when and how entities can apply for tax deregistration under Federal Decree-Law No. 47 […]
Understanding Corporate Tax Registration Process
Understanding Corporate Tax Registration Process Corporate Tax is a form of taxation imposed on the profits earned by corporations or businesses. It is a direct tax levied by the government on the income generated by companies, partnerships, or other legal entities engaged in business activities. Corporate Tax is typically calculated by deducting allowable expenses and […]
Q2 2023 – GCC Tax News & Updates
Q2 2023 – GCC Tax News & Updates As part of our commitment to keeping you informed about the latest developments in the financial landscape, we are delighted to present our newsletter featuring tax highlights for GCC (Gulf Cooperation Council) countries. The GCC region is known for its dynamic economic environment, with each country having […]
Transfer Pricing and the Required Documentation
Transfer Pricing : The Required Documentation Transfer pricing A critical aspect of multinational business operations, involves determining the prices of transactions between related entities within a multinational enterprise (MNE). To ensure fairness, transparency, and compliance with tax regulations, transfer pricing documentation becomes paramount. Companies are obliged to retain transfer pricing (TP) documentation if they meet […]
Understanding Qualifying Free Zone Persons in the UAE
Corporate Tax – Understanding Qualifying Free Zone Persons in the UAE Introduction The UAE has established itself as a vibrant commercial center, drawing a large number of foreign investors and businesses. To further attract businesses, the UAE government granted preferential tax treatment for enterprises operating within designated free zones. Among these advantages is the ability […]
