There are a number of factors that cause the cancellation or revocation of a trade license in Sharjah business zone. Conducting a complete liquidation procedure is often a complex task for corporations; enterprise units close their roles during this process, and the firm’s assets and capital are distributed among the shareholders. Thus, it is essential … Read more
Tax agency refers to the legal entities approved by the Federal Tax Authority (FTA) to represent business entities and other entities in tax related issues. Tax agencies are the key responsibility holders in UAE for the proper implementation of tax laws such as corporate tax, Value Added Tax (VAT) and Excise Tax. They are allowed … Read more
The UAE corporate tax was introduced in June 2023 in line with international tax policies. Whereas, certain entities qualify for corporate tax exemption if they meet the exemption criterion, as provided by the Federal Tax Authority. This article details the entities that qualify for corporate tax exemption in UAE. Who can apply for corporate tax … Read more
The Federal Tax Authority (FTA) in the UAE receives complaints and requests for clarification from both individuals and businesses. Regardless of the nature of your concern, the FTA values all inquiries and feedback. As a result, the authority conducts investigations to address concerns effectively and ensures that feedback is properly considered, fostering transparency and open … Read more
In the United Arab Emirates, corporate tax audit is a legal procedure that confirms an organization’s adherence to tax regulations. To ensure that taxable income is reported, tax forms are filed, corporate income taxes are paid on schedule and audits are carried out. Under UAE Corporate Tax Law, Federal Decree-Law No. 47 of 2022, the … Read more
Article 40 of the UAE Corporate Tax Law states the procedure and requirements for forming a Tax Group. A Parent Company by a Tax Group under the UAE Corporate Tax law is entitled to aggregate one or more Subsidiaries. The key ownership requirements include juridical status, 95% ownership threshold, control over voting rights and profits, … Read more