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
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
According to the OECD guideline, a resident person shall have to pay taxes in his resident country based on the world income, while a non-resident person only needs to pay taxes in a contracting state based on the income derived from that state. According to this principle a resident person have to pay taxes twice … Read more
Financial audits are independent investigations into the records, processes, and statements of a company concerning their accuracy in line with accounting standards. It reviews whether the financial information presented concerning the company is presented fairly and according to the applicable Financial reporting standard. Laws Governing Audit in UAE The following regulations govern audits in UAE: … Read more
Real estate investment is a key investment in Dubai. Hence UAE Federal Tax Authority gives special attention on the person who invest in Real property in UAE. The government wants to motivate real property investors by giving special exclusions for natural persons who invest in a real property in UAE. Are you a real property … Read more
Persons subject to corporate tax in UAE under corporate tax law are called taxable persons, and they may be natural persons or judicial persons. Taxable Persons are required to submit Tax Returns and pay due Corporate Tax to the Federal Tax Authority within 9 months from the end of their Tax Period. The FTA may … Read more
The Federal Tax Authority (FTA) calls upon all natural persons to apply for Corporate Tax Registration relating to the corporate tax in the UAE. Such registration is to be made on or before 31st March 2025, failing which one will be liable to Administrative Penalties. This article aims at discussing how one can get registered … Read more
Getting the ESMA certificate is extremely vital for any firm that seeks entry into the United Arab Emirates (UAE) to sell its products of water fixtures. It would be a confirmation that your product, indeed, complied with the fairly strict requirements on the safety and environmental protection side for quality aspects as well in the … Read more
What Is Corporate Tax? Corporate tax means, the amount of profit contribution from an entity or businesses from their profit during the period. UAE is a business country that allows businesses to invest and earn profit without paying any direct taxes to UAE government before June 2023, however, as intention is to be in line … Read more
The new rules for the “Voluntary Disclosure System” have been introduced by Dubai Customs through Customs Policy No. 58 of 2024. This policy requires businesses to provide prior notification on any mistake or infringement along with the customs declarations. The policy ensures transparency and compliance in businesses’ trading. Purpose of the Voluntary Disclosure System The … Read more
Brand registration in the UAE is an important process that each and every business should carry out for its identity and trademark services. Be it a new company or one already running an established one, registering your brand name in the UAE ensures your name, logo, or slogan is legally kept safe. The given guide … Read more
If you want to set up a business in Dubai, then you need to obtain a trade license to legally carry out your business activities. Do not panic; we are here to walk you through the whole process of how to obtain a trade license in Dubai in the most detailed manner. Let’s begin. What … Read more
The UAE Federal Tax Authority (FTA) is pleased to announce a Decision aimed at supporting the regular conduct of business toward its obligation for compliance in the most effective ways. It allows grace by giving a period wherein the registrants, by necessity, have failed to make updates in their tax record obligations. The FTA has … Read more
Managing payroll in the UAE is a complex task that can be challenging for any business. Among these challenges, understanding and complying with payroll tax regulations can be particularly difficult for employers. This article provides guidance on navigating the complexities of payroll taxes in the UAE and offers employers the right approach to ensure compliance. … Read more
Trademark registration in UAE can be seen as one of the most important legal procedures that every company eager to protect its identity and an exclusive right to use a particular mark should undertake. An important thing to consider in the process of registering a trademark is the classification of the goods and services. This … Read more
Trade license cancellation in Sharjah is one of the major processes taken up by business owners to shut down an operation for any reason. Whether it be because of changes in market dynamics, adaptation of a change in business focus, or completion of a project, the cancellation of a trade license should be done according … Read more
Human Resource Planning (HRP) is the process of identifying a company’s human resources requirements to effectively manage its human capital. The main purpose of HRP is to have the right employees with the right skills in an organization to fulfill the objectives of the business. This article will cover what HRP stands for, the steps … Read more
Human Resource Management (HR) plays a strategic role in organizations worldwide because it is primarily in charge of managing an organization’s workforce and human capital. HRMS stands for Human Resource Management System which is a software application to help the HR department in the organization to manage its tasks. In this article, you will learn … Read more
Accounting involves the process of recording, summarizing, reporting and analyzing of the financial transactions of an organization for the purpose of legal compliance. This article extensively explains the scope of legal accounting. Key Features of Accounting and Legal Compliance The following are some of the key features of legal accounting: Preparation of books of accounts … Read more