The upcoming corporate tax in UAE is for corporations and applies to their business profits for the year 2023 and so on. The law is not active presently, however, work is in progress to make the law official and acceptable. This law update addresses the regulations for tax returns and relevant aspects such as transfer … Read more
Annual financial statements that are backed by an auditor’s report and attested by it must be submitted when a corporation is registered. According to the Commercial Companies Law, all top audit firms in Dubai are obligated to have an audit or financial review of their financial records. There is a lot of uncertainty each year … Read more
Ras Al Khaimah Economic Zone is one of the most significant economic Zones in the UAE, it serves a compelling role in the UAE’s economy. The economic zone offers businesses a firm financial foundation and supports a wide range of commercial operations. Ras Al Khaimah Economic Zone companies are required to submit their financial statements … Read more
The UAE Corporate Tax will be effective from the 1st of June 2023. The UAE Corporate Tax will be equally applicable to all types of businesses and commercial workouts excluding extraction of natural resources, among other exemptions which will continue to be taxed at the Emirate level. Banking operations are no exception to Corporate Tax, … Read more
The Dubai Silicon Oasis Free Zone is a significant economic Free Zone that promotes advanced technology-based industries. As part of the Dubai Silicon Oasis Free Zone’s commitment to ensure the highest standards of corporate governance, all companies operating in the Free Zone are required to have their financial statements audited by approved Audit Firms in … Read more
In 2008, the buzz-generating decentralized digital currency ecosystem known as Bitcoin was first introduced, using blockchain as its foundational technology. The attractiveness of this technology is found in its use of cryptography and peer-to-peer network technology. This innovative technology is already starting to have a major impact on a wide range of industries, and the … Read more
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