Corporate Tax In the UAE
Corporate Tax In The UAE A corporate tax is a tax levied on the profit of a business. The taxes are paid on the company’s taxable income, using the below-simplified formula: Taxable Income = Gross revenue – COGS – Tax allowable Expenses (Deductions) When the deduction (expenses) claimed is more than the total revenue earned by […]
UAE issues resolution on Tax Residency
UAE issues resolution on Tax Residency The UAE government has approved Cabinet Resolution No. 85 of 2022 providing guidelines to determine the tax residency for “natural and legal” persons and shall be effective from 01 March 2023. Prior to such Cabinet Decision, no statutory definition was available on the procedure for applying for a Tax […]
The Ministry of Finance signed an agreement for the Avoidance of Double Taxation with Tanzania
The Ministry of Finance signed an agreement for the Avoidance of Double Taxation with Tanzania The Ministry of Finance signed an agreement for the Avoidance of Double Taxation and Prevention of Tax Evasion with respect to taxes on income with Tanzania, a part of efforts to strengthen cooperation in tax matters, protect taxpayers from double […]
Delay in Implementation of Pillar Two Directives
Delay in Implementation of Pillar Two Directives On May 16th 2018, the United Arab Emirates (UAE) joined the OECD inclusive framework on Base Erosion and Profit Shifting and since then UAE has been constantly taking various measures for the implementation of BEPS standards primarily focusing on Action 5, 6, 13 and 14. The OECD inclusive frameworks’ […]
