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
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
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
Ministerial Decision No. 27 of 2023 on Implementation of Certain Provisions of Cabinet Decision No. 85 of 2022 on Determination of Tax Residency stipulates the requirements for taxable persons to be regarded as tax residents in the UAE. Therefore, for taxable persons to effectively assess and determine their tax residency, it is advisable to seek … 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 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
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