UAE Transfer Pricing Disclosure Form: TAX ALERT
UAE Transfer Pricing Disclosure Form Overview The UAE Federal Decree-Law No. 47 of 2022, which governs the taxation of corporations and businesses, mandates that taxpayers submit a Transfer Pricing (TP) Disclosure Form along with their Corporate Tax Return. This disclosure form requires information on arrangements with related parties, as stipulated in Article 55(1). The Federal […]
Understanding Management Remuneration Deductions under Corporate Tax UAE 2023
Corporate Tax UAE 2023: Can You Claim Management Remuneration? The United Arab Emirates (UAE) has introduced a corporate tax law on 1st June 2023. While this is a significant development for the country’s economic growth, it also raises several questions for businesses operating there. One such question pertains to the deductibility of management remuneration for […]
Corporate Tax Return UAE: What You Need to Know Before Sept 30’2024
UAE Corporate Tax Filing: 2024 Return Due Date is Sept 30 The UAE’s introduction of a corporate tax is a significant step towards a more diversified economy. Effective from 1st June 2023, the new tax regime applies to businesses with annual taxable income exceeding AED 375,000. This landmark change aligns the UAE with international tax […]
Understanding the First Tax Period in UAE Corporate Tax Law – Part 2
Essential Takeaways from the Inaugural Tax Period Under UAE Corporate Tax Law In our previous blog, we explored the concept of the first tax period for resident juridical person subject to Corporate Tax Law in the UAE. Now, let’s delve deeper into the specific case of non- resident persons having a permanent establishment (PE) in […]
Understanding the First Tax Period in UAE Corporate Tax Law – Part 1
Key Insights into the First Tax Period of UAE Corporate Tax Law The United Arab Emirates (UAE) Corporate Tax Law has introduced a new era of taxation for businesses operating within the country. A crucial aspect of this law is the concept of the first tax period. This period serves as the foundation for future […]
UAE Accounting Standards: Currency Guidelines for UAE
Which Currency is Compliant for UAE Accounting Standards? The UAE, a hub for budding entrepreneurs and multinational companies, is known for its business-friendly environment. While the United Arab Emirates dirham (AED) is the official currency of Dubai and the entire UAE, due to several factors, such as the requirement of reporting the financials in the […]
UAE Corporate Tax Guide: Essential Tips for Natural Person
UAE Corporate Tax Guide: Key Insights for Individuals The United Arab Emirates (UAE) introduced Corporate Tax (CT) in June 2023. While primarily targeting corporate entities, the law also encompasses natural persons conducting business activities within the country. In this blog, let us look into the key aspects of UAE Corporate Tax for common people. When […]
Who is a Related Party as per Corporate Tax Law?
According to the Corporate tax Law, any transactions carried out with the related parties should be subject to the arm’s length principle under the transfer pricing regulations. A transaction or arrangement meets the arm’s length standard if it results in the same effect as arising from a similar transaction or arrangement or similar circumstances between […]
DOCUMENTS REQUIRED FOR CORPORATE TAX REGISTRATION IN DUBAI UAE
The Introduction of Corporate tax in the United Arab Emirates (UAE) marks a significant shift in the country’s fiscal geography. Businesses operating within the UAE will now be subject to CT, and is required to register with the Federal Tax Authority (FTA). To ensure a smooth registration process, having a clear understanding of the requisite […]
COMMON BUSINESSES TAX MISTAKES TO AVOID IN DUBAI UAE
The introduction of corporate tax in the UAE isn’t just a change in policy; it’s a catalyst for a shift in business practices. This move is expected to have a widespread impact, not only strengthening the UAE’s economy but also leading to a more refined and transparent approach to business operations within the country. The […]
UAE Corporate Tax Result on Business Growth: Strategies for Success
The UAE’s business outlook transformed in June 2023 with the introduction of corporate tax. This move signals a shift towards a more sustainable economic model, prioritizing fiscal responsibility without sacrificing the country’s growth ambitions. Businesses operating in the UAE must now understand this new tax environment strategically to ensure continued success. This blog explores the […]
Support in UAE Corporate Tax For Small Businesses & Industrial SMEs
Empowering Small Businesses Small businesses are the backbone of the United Arab Emirates’ (UAE) economy, contributing significantly to its growth and dynamism. In this blog, we will explore the challenges small businesses may face in the UAE corporate tax landscape and highlight the assistance measures designed to help them thrive. The UAE implemented Corporate […]
Don’t Miss the Deadline For Corporate Tax Registration Deadlines in UAE
The United Arab Emirates (UAE) issued Federal Decree Law. No. 47 of 2022 on the Taxation of Corporations and Business on December 9, 2022 & implemented its Corporate Tax regime from 1st June 2023. All taxable persons (including Free Zone persons) as defined under the law, are subject to UAE Corporate Tax from the beginning […]
UAE Corporate Tax for Free Zones | Zero-Rate Eligibility Guide
Free Zones in UAE Who Are Eligible For Zero Rate Corporate Tax A strategic location, coupled with a business-friendly environment, has propelled Dubai into the modern metropolis it is today. This magnet for global companies owes much of its success to its diverse Free Zones. There are several Free zones in Dubai and each of […]
Understanding Corporate Tax in Dubai UAE | Exemptions Explained
The United Arab Emirates has long been regarded as a tax haven, luring businesses with its sunny beaches and promises of low taxes. However, the latest introduction of a 9% corporate tax in June 2023 seems like a game-changer. Corporate Tax, also referred to as “Corporate Income Tax (CIT)” or “Business Profits Tax” has become […]
UAE Corporate Tax Law Penalties
With the introduction of a federal corporate tax law, the United Arab Emirates (UAE) has undergone significant changes in its tax arena in recent years. This new legislation has implications for businesses operating in the UAE, including foreign companies with a presence in the country. One crucial aspect of this tax framework is the enforcement […]
UAE Corporate Taxation: Key Points To Understand
Corporate Tax in Dubai UAE United Arab Emirates has been, for a long time, an endearing country for corporations for it did not, except for certain handful industries, impose any taxes on revenues or profits of the corporations. However, as a result of recent modifications to UAE legislation, especially Federal-Decree Law No. 47 of 2022, […]