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 […]
A Comprehensive Guide for Businesses: Navigating Corporate Tax in the United Arab Emirates
A Comprehensive Guide for Businesses – Navigating Corporate Tax in the United Arab Emirates A Comprehensive Guide for Businesses: Navigating Corporate Tax in the United Arab Emirates Introduction In the United Arab Emirates (UAE), corporate tax is a substantial component of the tax system and is essential to the government’s ability to raise economy. This […]
Corporate Tax in the UAE Update – June 2023
Corporate Tax in the UAE – Update June 2023 The Ministry of Finance issued recent updates in regards to the New Corporate Tax regime. Ministerial Decision No (132) of 2023 on Transfers within a Qualifying Group The Ministry of Finance has announced Ministerial Decision No (132) of 2023 on Transfers within a Qualifying Group. The decision […]
Corporate Tax in the UAE Update – May 2023
Corporate Tax in the UAE – Update May 2023 The Ministry of Finance issued recent updates in regards to the New Corporate Tax regime. Ministerial Decision No (125) of 2023 on Tax Grouping The UAE Ministry of Finance has issued Ministerial Decision No (125) of 2023 on Tax GroupingThe UAE Parent Company must own at […]
Benefits of External Audit for the New Corporate Tax Law in the UAE
Benefits of External Audit for the New Corporate Tax Law in the UAE An external audit is an unbiased review of a company’s books of accounts by an auditor to determine if the financial statements are accurate and true. An auditor also examines whether the company adheres to accounting regulations and procedures. An independent auditor […]
Corporate Tax in The UAE – An Overview of the Regulations and Exemptions
Corporate Tax in The UAE – An Overview of the Regulations and Exemptions Corporate tax is an important component of a country’s fiscal policy since it generates income for the government while shaping the economic landscape. Corporate tax legislation in the United Arab Emirates (UAE) have experienced substantial revisions in recent years. This article seeks […]
Corporate Tax – Requirements for Transfer Pricing Documentation
Corporate Tax – Requirements for Transfer Pricing Documentation The Ministry of Finance has issued the Ministerial Decision No (97) of 2023 on the Requirements for Maintaining Transfer Pricing Documentation which aims to promote transparency and fairness in the UAE’s tax system. Federal Decree Law No (47) of 2023 on the Taxation of Corporations and Businesses […]
