Important UAE CT actions before year-end As the first financial year following the introduction of the Corporate Tax Law (“CT Law”) comes to a close for many businesses in the United Arab Emirates, it is important to ensure taxpayers meet statutory deadlines and understand the key technical ...
Navigate UAE Corporate Tax regulations with VATBOX Tax Agency! Discover insights on Tax rates, Compliance, and Expert guidance for UAE businesses. VAT BOX is the leading Tax Advisory services provider in the UAE, offering a range of services aimed at helping corporations stay compliant with the ...
The Ministry of Finance (MoF) confirmed the Federal Decree-Law No. 47 of 2022 on the Taxation of Corporations and Businesses is an important milestone in building an integrated tax regime that supports the strategic objectives of the UAE and enhances its global economic competitiveness, ...
On March 7, Law No. (1) of 2024 (“Law”) on taxation of foreign banks operating in Dubai was issued by the Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum. This decision is effective from the date of its publication in the official ...
Corporate tax will be levied on the profit, not on the total turnover, of the company. Will UAE residents getting a salary of over Dh375,000 have to pay tax? No. It will not be applicable to the salary. Will corporate tax apply to a freelancer?
Oliver Wyman partner,Ibrahim Ghoul, recently shared his insights on UAE fiscal policy with Fast Company Middle East and, as he pointed out, “Such moves have the potential to be huge for GCC economies; leading to a professionalization of up-to-date data that will help drive and inform decisi...
When will corporate tax in UAE be implemented? + As per the latest announcement, corporate tax will be in full effect from the financial year starting on or after 1 June 2023. For businesses that have a financial year starting on 1 January 2023 and ending on 31 December 2023, they will ...
UAE introduces new fees on international imports in 2023 Why does it matter? The move is intended to support start-ups and other small or micro businesses by reducing their Corporate Tax burden and compliance costs. The ministerial decision on Small Business Relief specifies the revenue threshold ...
“Looking to the medium term, we welcome the planned fiscal reforms, including the expected introduction of a corporate income tax and gradual phasing out of business fee structures” – Mr Ali Al-Eyd of the IMF, speaking following his Article IV Consultation with UAE authorities, held from 2...
The corporate tax applies to all UAE-incorporated businesses operating within the seven emirates, as well as foreign businesses with a: Permanent establishment in the UAE earning UAE-sourced income Tax residence by way of management and control in the UAE. ...