UAE government issued the Federal Decree-Law No. 47 of 2022 on the Taxation of Enterprises and Firms (hereafter known as the “Corporate Tax Law”). For financial years beginning on or
As per the UAE Federal Decree-Law No. 47 of 2022, companies operating in Dubai will be subject to UAE Corporate Tax starting from their initial financial year commencing on or
The United Arab Emirates (UAE) has emerged as a global leader in embracing renewable energy and promoting sustainable development. As part of its efforts to transition towards a greener future,
Partnerships are collaborative ventures involving entities such as companies and individuals engaged in investment management and business activities including joint ventures (JVs), Limited Liability Partnerships (LLPs) and general partnerships like
Under the UAE’s Corporate Tax regulations, Qualified Free Zone Individuals can avail of a zero percent tax rate on qualifying earnings arising from qualifying activities. The term qualifying activities pertains
A family foundation is an entity such as a trust, foundation, or similar body established to manage personal investment or wealth under the UAE’s applicable law. Commercial, trade, or any
Pre-grouping tax losses refer to the tax losses incurred by a subsidiary before becoming part of a tax group. In other words, they arise when a subsidiary’s deductible expenses exceed
The MoF (Ministry of Finance) declared on January 31, 2022, that a federal Corporate Tax will be implemented on commercial earnings in the UAE beginning from June 1, 2023. Ever
With the UAE all set to implement the corporate tax from 2023, next year, the aspect of compliance is of significant importance. Non-compliance with the new corporate tax regime in
The income of non-resident persons is subject to corporate tax in the UAE if it is derived from UAE sources. This includes income from business activities and investments. For personalized
Public Clarification TAXP008 issued by the UAE Federal Tax Authority (FTA) specifies the circumstances under which taxpayers may apply for reviews of tax assessments in relation to corporate tax, excise
In a broader context, Related Parties encompass individuals or legal entities that maintain pre-existing relationships with other individuals or entities. Such relationships can be established through ownership, control, or kinship
