The UAE government announced that, as of 1 August 2023, the Federal Tax Authority (FTA) will impose administrative penalties on taxable persons who fail to comply with the UAE Corporate Tax Law. The fines range from AED (Emirati Dirhams) 500 – around 128 euros – each month for late tax...
UAE has issued a Federal Decree-Law on Taxation of Corporations and Businesses, under which they will become subject to UAE Corporate Tax from the beginning of their first financial year that starts on or after 1 June 2023. The UAE’s Corporate Tax regime will levy a standard rate...
The recent decision aligns with Article 21 of the Corporate Tax Law, which treats the taxable person as not having derived any taxable income in a given tax period where the revenue did not exceed a certain threshold. Read more: UAE introduces new fees on international imports in 2023 Why do...
47 of 2022, and payable to the Federal Tax Authority under this Decree-Law and the Tax Procedures Law. The businesses will be subject to UAE Corporate Tax (CT) from the beginning of their first financial year, starting from 1st June 2023. Who is Corporate Tax Applied On? Resident person:...
Tally Solutions|Updated on: April 20, 2023 Corporate tax assessment under the UAE corporate tax law Request for assessment by a taxable person under the UAE corporate tax law Penalties imposed on a taxable person for violation of provisions of UAE corporate tax law ...
The Federal Tax Authority (FTA) has issued a new guide outlining the criteria to determine natural persons subject to the Corporate Tax Law, that came into effect on 1st June 2023. The guide provides a comprehensive and simplified explanation and instructions for natural persons realising income ...
Emara Tax platform: FTA has begun early registration for corporate tax from January 2023 to May 2023 through Emara Tax, the UAE’s digital tax services platform for companies operating in the Emirates. Corporate tax:It is the tax levied on the business’s profit. It is paid on a company’...
The Federal Decree-Law No. 47 of 2022 on the Taxation of Corporations and Businesses stipulates that taxable persons and businesses will be subject to nine per cent corporate tax from the beginning of their first financial year that starts on or after June 1, 2023. ...
UAE Corporate Tax: Dubai Emirate Law No. 1 of 2024 - Taxation of foreign banks 5 minute read March 13, 2024 Share In brief On March 7, Law No. (1) of 2024 (“Law”) on taxation of foreign banks operating in Dubai was issued by the Ruler of Dub...
The Federal Tax Authority (FTA) has released a Corporate Tax (CT) Guide on Accounting Standards and their interaction with Corporate Tax. The document includes detailed guidance on accepted accounting standards, taxation under realisation basis of accoun