The UAE Federal Tax Authority imposes fines and penalties on taxable persons for non-compliance with tax regulations and standards. It’s advisable for taxable persons to use the services of accredited tax consultants in the UAE to navigate tax complexities and stay compliant with VAT law. Important: The Penalty Framework Has Been Restructured Cabinet Decision No. … Read more
How Is Taxable Income Determined for UAE Corporate Tax Purposes? Taxable persons under UAE Corporate Tax Law must determine their Taxable Income for each tax period. Taxable Income is the business’s accounting net profit, adjusted for the specific deductions, exemptions, and adjustments set out under Federal Decree-Law No. 47 of 2022, rather than the raw … Read more
Businesses that engage in online transactions must have a thorough understanding of the criteria and conditions that govern electronic commerce supply. These factors are essential in determining whether goods or services can genuinely be classified as electronic commerce. To meet this classification, the supply must be advertised and ordered through an electronic commerce medium. For … Read more
What Is Excise Tax and Why Do Designated Zones Matter? UAE Excise Tax is an indirect tax applied to specific goods considered harmful to public health or the environment. Unlike VAT, which applies broadly across most goods and services, excise tax targets a narrow list of products, including tobacco and tobacco products, energy drinks, carbonated … Read more
Ministerial Decision No. 73 of 2023 provides relief to small businesses, aimed at easing their Corporate Tax burden and reducing compliance costs. The Decision stipulates a revenue threshold that qualifies a business for tax relief. It’s advisable for small businesses to seek expert guidance from Tax Consultants in the UAE to establish their taxability and … Read more
What Corporate Tax Deregistration Is Corporate Tax deregistration is the formal process through which a taxable person cancels their Corporate Tax registration with the Federal Tax Authority (FTA), terminating their obligation to file Corporate Tax returns and pay Corporate Tax. Deregistration does not mean that past liabilities are extinguished. All outstanding Corporate Tax returns must … Read more
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