Federal Tax Authority opens Corporate Tax registration for Public Joint Stock Companies and Private Companies.
Federal Tax Authority opens Corporate Tax registration for Public Joint Stock Companies and Private Companies. The Federal Tax Authority (FTA) has launched registration for Corporate Tax through the EmaraTax digital tax services platform for Public Joint Stock Companies and Private Companies starting tomorrow, Monday, 15 May 2023, in line with Federal Decree-Law No. 47 of […]
In The UAE’s New Corporate Tax Law Regime – Who needs to be registered for Corporate Tax?
In The UAE’s New Corporate Tax Law RegimeWho needs to be registered for Corporate Tax? The United Arab Emirates (“UAE”) adopted Federal Decree-Law No. 47 of 2022 on the Taxation of Corporations and Businesses (hence referred to as the “Corporate Tax Law”) on December 9, 2022. According to the legislation, non-residents will only be taxed […]
Corporate Tax in the UAE Update – April 2023
Corporate Tax in the UAE Update – April 2023 Who can claim Small Business Relief and what factors needs to be considered before opting the relief? As per Ministerial Decision No. 73 of 2023, the Taxable Person with a business revenue of up to AED 3,000,000 (three million dirhams) in the relevant Tax Period and […]
Documents Required For Corporate Tax Registrations
Documents Required For Corporate Tax Registrations What is Corporate Tax? Corporate Tax is a form of direct tax levied on the net income of corporations and other businesses. It is sometimes also referred to as “Corporate Income Tax” or “Business Profits Tax” in other jurisdictions. Introduction On January 31, 2022, the United Arab Emirates […]
Ministry of Finance announces Corporate Tax Law exemption for entities contributing to the public and community benefit.
Ministry of Finance announces Corporate Tax Law exemption for entities contributing to the public and community benefit. Qualifying public benefit entities are established for the welfare of the public and society, focusing on activities which contribute to the fabric of the UAE. This implementing decision is designed to reflect these entities’ important role in the […]
Small Business Relief
Ministry of Finance issues decision on Small Business relief for Corporate Tax purposes Ministerial Decision No. 73 of 2023 has been issued by the Ministry of Finance for Small Business Relief under the Corporate Tax Law. The decision allows taxable persons whose revenue does not exceed a certain threshold to be treated as not having […]
Q1 2023 – GCC Tax News & Updates
Q1 2023 – GCC Tax News & Updates To ensure your business’s success, we recognize the importance of tax compliance and savings. That’s why we want to keep you informed about the most recent tax updates in the GCC region through our 2023 Quarterly Tax Newsletter. This newsletter offers a comprehensive overview of the latest […]
What is Transfer Pricing?
What is Transfer Pricing? Transfer Pricing represents the price agreed upon for transactions between related parties. Companies carrying out transactions with related parties should charge similar prices for these transactions as compared to transactions with independent parties, thus observing the arm´s length principle. WHICH SUBJECTS ARE OBLIGED TO KEEP DOCUMENTATION? UAE taxpayers that carry out […]
Corporate Tax In The UAE : Implications On Freezone Business
Corporate Tax In The UAE : Implications On Freezone Business On January 31st, 2022, the UAE Ministry of Finance (MoF) announced the introduction of Corporate Tax (“CT”) in the United Arab Emirates which will be effective for financial years starting on or after June 1st, 2023. On 28 April 2022, MoF also released a Public […]
UAE Corporate Tax Law Published
UAE Corporate Tax Law Published The UAE Corporate Income Tax Law has been published today, and it is available on the new digital tax administration platform, EmaraTax. It is now confirmed that the businesses will become subject to UAE Corporate Tax from the beginning of their first financial year, which starts on or after 1 […]
