Cabinet Decision No. 127 of 2024 marks a significant update to the Value Added Tax (VAT) framework within the UAE, mainly concentrated on transactions concerning precious metals tax UAE among VAT-registered businesses. Effective from February 15, 2025, this decision introduces the Reverse Charge Mechanism (RCM),...
The UAE's Federal Tax Authority (FTA) has issued a crucial reminder to all individuals engaged in business activities in the country: registration for Corporate tax should be completed by the end of March, 2025. This new requirement is a key factor of the UAE's ongoing...
The introduction of UAE Corporate Tax on Foreign Income has currently extensively reshaped the taxation landscape for both the resident and nonresident with a Permanent Establishment (PE) within the UAE. Understanding the tax treatment of foreign income is important for businesses and individuals working in...
Ministerial Decision No. 301 of 2024, issued on 9th December 2024, is a pivotal piece of legislation designed to offer further clarity and guidance on the taxation of groups and corporations under Federal Decree-Law No. 47 of 2022 the Corporate Tax Law. The decision, effective...
Dubai has established itself as an international financial hub, attracting investors from across the world. One of the important drivers of its thriving financial system is the rise of private equity (PE) funds. These funds play an essential role in financing high-increase organizations, assisting innovation,...
The introduction of corporate taxation within the United Arab Emirates (UAE) marked a huge shift within the country's tax landscape. Effective from June 1, 2023, the UAE Corporate Tax, set at a rate of 9%, applies to businesses running within the country. However, businesses that...
Liquidation audits are important for making sure that the winding-up process of an employer is carried out transparently and in compliance with legal requirements. In Dubai, in which the commercial enterprise surroundings are dynamic and regulated, avoiding common mistakes during a liquidation audit process is...
With the implementation of the UAE's Corporate Tax in June 2023, companies are now facing new requirements and obligations regarding tax registration and compliance. However, many business owners may not be fully aware of the UAE Corporate tax exemptions available under the new system. The...
Are you considering liquidating your business in the UAE? Navigating this complex process can be daunting, especially with varying regulations and requirements. Whether you're facing financial challenges or simply looking to close your business operations, understanding how to effectively manage liquidation is crucial. In this...
In the UAE, the Federal Tax Authority (FTA) imposes VAT fines and consequences on businesses that fail to conform with the Value Added Tax (VAT) law. These consequences may be substantial, relying on the character of the violation. However, businesses that face VAT consequences can...
