UAE Corporate Tax Law Defining Taxable Persons
Ervee Villanueva
Administrative Penalties Under VAT in UAE
The UAE Federal Tax Authority imposes fines and penalties upon taxable persons for noncompliance to tax regulations and standards. Thus it is advisable and imperative for taxable persons to avail of the services of accredited tax consultants in UAE to navigate and combat tax complexities and stay compliant with VAT Laws. Under what circumstances are … Read more
Determining Taxable Income for Corporate Tax Purposes in UAE
Taxable persons are required to determine Taxable Income for corporate tax purposes in the UAE. Taxable income is the accounting net profit of a business after subtracting allowable deductions, exemptions, and credits from the total income. Therefore, to determine Taxable Income in compliance with the Corporate Tax Regulation in UAE, taxable persons are advised to … Read more
Criteria and Conditions for Electronic Commerce Businesses to Keep Records of the Supplies Made
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 be classified as electronic commerce. To meet this classification, the supply must be advertised and ordered through an electronic commerce medium. In the … Read more
Guide to Excise Tax Deductions in UAE Designated Zones
UAE’s Excise Tax is an indirect targeted way of discouraging the consumption of products that pose a potential health risk to the public or the environment. It’s a levy on items like tobacco products, carbonated beverages, and energy drinks, not broad like VAT. On average, levies on these products range from 50% to 100%, … Read more
Small Business Relief for the Purpose of Taxation of Corporations and Businesses
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 for tax relief. Thus, it is advisable for small businesses to seek the expert services of Tax Consultants in UAE to establish their taxability and … Read more