What Corporate Tax Compliance Means for UAE Businesses UAE Corporate Tax was introduced under Federal Decree-Law No. 47 of 2022 and applies to companies and individuals conducting business in the UAE. Corporate Tax compliance covers the full cycle of obligations a taxable person carries under this law: registering with the Federal Tax Authority (FTA), maintaining … Read more
Transportation is one of the few areas of UAE VAT law where three different treatments can apply to what looks, on the surface, like the same kind of service. Selling a bus is treated differently from providing a bus service. A bus service open to the general public is treated differently from a bus service … Read more
Input tax, VAT paid by a business for the purchase of supplies and services. VAT in UAE allows all registered businesses in the country to recover tax. That is paid for producing goods and services that are sold to clients and customers. Input tax that is eligible for a business to recover plays a significant … Read more
Qualifying Income is defined as the income that qualifies for the 0% corporate tax rate applicable to entities within the UAE’s Free Zones after satisfying the criteria stipulated in Cabinet Decision No. 100/2023. Qualifying Income is not associated with a business or establishment of the Qualifying Free Zone Person beyond the Free Zone. Also read: … Read more
To enhance clarity and performance for taxpayers, the UAE Federal Tax Authority or FTA issued Decision No. 5/2024 dated on July 19, 2024 on the refund of fees for private clarification requests. This new policy came into effect commencing from August 1, 2024. To Whom Can a Clarification Request Be Submitted? In any case, it … Read more
Why Businesses Outsource Accounting in the UAE Outsourcing bookkeeping and accounting operations to an established accounting firm helps a business maintain genuine accounting integrity, rather than just the appearance of it, and gives it a more reliable path to staying compliant with the UAE’s evolving financial regulations. This matters more now than it did a … Read more
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