The United Arab Emirates (UAE) Federal Tax Authority is introducing the corporate income tax law (UAE Federal Decree-Law No 47 of 2022 – Taxation of Corporations and Businesses) in 2023. It will have a significant impact on businesses operating within the country. This new law will bring the...
This is referred to as the UAE Corporate Tax Law. The Corporate Tax or the CT in short is a form of direct tax that is levied on the net profit of corporations and businesses in the UAE. Corporations in the UAE are required to register for the corporate tax which is going to be ...
business activity exceeds AED3 million in any tax period and such persons have elected to apply for Small Business Relief, this would be considered an arrangement to obtain a Corporate Tax advantage under Clause (1) of Article 50 regarding the general anti-abuse rules of the Corporate Tax Law...
The Federal Tax Authority (FTA) has issued Decision No. 7 of 2024, extending the filing and payment deadlines for certain tax periods under Federal Decree-Law No. 47 of 2022. URGENT: Corporate Tax Registration Due by 30th September! Reminder: Register for Corporate Tax To avoid penalties as ...
Under the recent cabinet decision, these entities must meet the conditions under Article (9) of the Corporate Tax Law, continue to comply with all relevant federal and local laws and notify the Ministry of Finance of any changes that impact their status as a Qualifying Public Benefit Entity, ...
Corporate tax assessment under the UAE corporate tax law The assessment of corporate tax means analyzing and reviewing the taxpayer’s tax return details that were filed during the tax period, including those in thefree zone. All the information filled in when filing the corporate tax return shoul...
Who is exempted from the corporate tax? A qualifying free zone entity which fulfils all conditions specified in the Executive Regulations of the UAE Corporate Tax Law will be exempt. Natural resource extraction activities are also exempted; however, they’re subject to existing emirate-level taxatio...
UAE Corporate Tax Law Transfer Pricing International Tax Tax Tax Agent Services in UAE Tax Dispute Tax Residency Certificate Service Excise Tax UAE Excise Tax Consultant Excise Tax Registration Excise Tax Return Filling Excise Tax Penalities Excise Tax FAQs Value Added Tax Vat Consultant VAT Registration...
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 positions which will underpin the financial...
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...