Subsequent to the issuance of Federal Decree Law No. 47 of 2022 on the Taxation of Corporations and Businesses in the U.A.E, Taxable Persons are required to register for corporate levy and to meet all requisite conditions. Hence, it is advisable for Taxable Persons to seek the services of trusted Tax Consultants in UAE to … Read more

As per Decision No. 68 of 2023, businesses and business activities held by Federal Government Entities shall be treated as a single taxable person under specific conditions. This Decision aims to simplify corporate tax procedures and ensure consistency in tax treatment for gov entities. It specifies the conditions that must be met for federal and … Read more

Corporate Tax Law in UAE furnishes provisions for exemption from corporate tax to distinct Taxable Persons. Cabinet Decision No.7 of 2023 stipulates conditions for tax registration and the timeline for exempt persons to apply for exemption, as well as guidelines for determining alternative effective dates for exemptions. These provisions aim to streamline the corporate tax … Read more

For corporate tax purposes in UAE, businesses engaging in commercial activities may incur costs related to entertaining existing or potential customers, as well as promoting their products and services. Such expenditures are eligible for deduction for Corporate Tax purposes, following the conditions for deductible expenses. However, it should be noted that entertainment expenditure typically involves … Read more

The UAE Corporate Tax Law offers various reliefs to Taxable Persons concerning the transfer of assets and liabilities within a Qualifying Group, as well as the transfer of shares and ownership interest during Business Restructuring. These reliefs are contingent upon meeting specific conditions outlined in the law. Once the necessary criteria are satisfied, Taxable Persons … Read more

The UAE Corporate Tax Law allows certain deductions in the computation of Taxable Income and sets out circumstances in which certain deductions are not allowed under the law. Thus, every taxable person in the UAE is permitted to an extent, some deductions in the calculation of their taxable income and shall be taking a look … Read more