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...
In 2024 a 9% corporate income tax rate is imposed on income exceeding AED 375,000. Foreign investors can hold up to 49% of the share capital in UAE mainland companies. In companies located in free trade zones foreign holding of 100% is allowed. Free Trade Zones, FTZ In the UAE there...
The United Arab Emirates (UAE) has changed its value‑added tax (VAT) law and introduced new tax exemptions. TheMinistry of Financeannounced on 5 October 2024 approval ofDecision No. 100 of 2024, amending some provisions of theExecutive Regulations of Federal Decree-Law No. 8 of 2017on VA...
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 ...
Effective 15th November 2024 The Federal Tax Authority (FTA) in the United Arab Emirates has announced Cabinet Decision No. (100) of 2024, which modifies the Executive Regulations of Federal Decree-Law No. (8) of 2017 on Value Added Tax, with effect from 15th November 2024. The purpose of...
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UAE tax exemption law: A new tax exemption law has been introduced in the UAE that cuts costs and exempts some from paying mandatory fees.
United Arab Emirates is renowned for its tax-free regime. This incentive has taken over the Dubai marketplace from other global markets but recently in December 2022, a law has been approved by the minister of UAE regarding the corporate sector tax regime that has been properly functional in ...
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...
5 minute read November 12, 2024 Share 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 ...