What the Participation Exemption Is The Participation Exemption is a relief provision under Article 23 of Federal Decree-Law No. 47 of 2022 (the UAE Corporate Tax Law) that exempts income derived from a Qualifying Participating Interest from Corporate Tax. The income that qualifies for exemption includes dividends received from the Participation, capital gains on disposal … Read more
What is a Custom Audit? Dubai Customs audit also referred to as a customs compliance audit, is a careful inspection process led by Dubai Customs authorities to confirm businesses’ adherence to regulations leading global trade. Audits conducted by Dubai Customs play a Principal role in ensuring compliance with regulations and upholding fair trade practices. Knowing … Read more
Under the corporate law in UAE, the primary objective of transfer pricing regulations is to guarantee that transactions involving Related Parties adhere to the arm’s length principle, mirroring transactions conducted between independent entities. This ensures that taxable income manipulation is prevented. The corporate tax law of the UAE necessitates that taxable entities determine transactions with … Read more
Companies in the Free zone companies such as DMCC must obliged to adhere strictly to reporting and compliance requirements. The best way for most of these companies to stay compliant is by outsourcing accounting and professional accounting services. Good bookkeeping services keeps records tidy for financial reporting, trade license renewal, and for any mandatory annual … Read more
Free Zones in UAE offer an array of incentives and exemptions, making them a popular choice for businesses looking to thrive in the region. This article explains the applicability of corporate tax or levy to free zones, the criteria for exemption eligibility, and the corporate tax registration process. Therefore, Taxable Persons are advised to seek … Read more
A Foreign Permanent Establishment refers to a branch, representation, or any business operations carried out by a Resident Person in a foreign jurisdiction, meeting the criteria specified in Article 14 of the UAE Corporate Tax Law. The exemption related to Foreign Permanent Establishments is elaborated as per Article 24 of the Corporate Tax Law which explains … Read more
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