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
A qualifying public benefit entity is an organization founded by private individuals, public agencies, or both to carry out socially beneficial activities, i.e., charity, culture, religion, or other public causes,
Corporate tax in the UAE is self-assessed, which implies that firms are required to compute and report their taxes correctly. Taxable persons compute their taxes using the taxable income and
Base Erosion and Profit Shifting (BEPS) has outlined the corporate tax structure of the UAE to implement and align according to the international standards as projected by the OECD in
UAE has implemented a standard 9% corporate tax for eligible companies with taxable income exceeding AED 375,000, while concurrently providing ongoing tax incentives and reliefs to support the business. Corporate
UAE Juridical Persons: Companies incorporated in mainland and Free Zones.
On July 19, 2024, the Federal Tax Authority, UAE issued Decision No. 5 of 2024 regarding the refund of fees for private clarification requests. This decision will be published in
Permanent Establishment (PE) is an important concept in tax rules, which is based on the OECD Model Tax Convention for a common standard for tax treaties between the UAE and
Double Tax Treaties (DTTs) agreements, negotiated between two countries, aim to determine which jurisdiction has the right to tax an individual’s or business’s earnings when they invest overseas. These treaties
Transfer Pricing assessment has become an important aspect of corporate tax compliance in the United Arab Emirates (UAE), following the introduction of UAE Federal Decree-Law No. 47 of 2022. Transfer
The UAE’s Federal Tax Authority (FTA) issued a Corporate Tax Guide for extractive and non-extractive businesses in December 2023. The guide is for entities involved in natural resources business activities
Corporate Tax Consultant UAE has a broad experience in tax matters and actively advocates for reconsideration requests on our client’s behalf to the FTA for UAE Tax Reassessment Appeals. This
For corporate tax purposes in UAE, companies can apply to form a Tax Group, which qualifies them to be considered as a single taxable entity. Therefore, to seamlessly form a
A tax group is a formal arrangement enabling two or more local companies to work as one for tax filing and compliance as defined under Article 40 of Corporate Tax,
The de minimis requirements are essential for the Free Zone Persons, who are seeking to keep the qualifying status to run their business without paying the corporate tax. These requirements
The permanent establishment concept evaluates a person’s taxability; it refers to a fixed workplace in a foreign country which imposes tax obligation upon the taxable person. Hence, it is essential
On November 11, 2024, the Federal Tax Authority in the UAE released “Tax Returns: Corporate Tax Guide | CTGTXR1” containing the instructions for UAE corporate tax returns guidance. The UAE
Opening a Corporate Bank Account in UAE is a crucial step for any business looking to establish a presence in the region. The UAE is a major hub for global
The Ministry of Finance (MoF) of the United Arab Emirates (UAE) recently announced its plan to impose a new corporate tax (CT) regime on businesses starting June of 2023.
According to the federal decree law no. 47 governing corporate tax in UAE, corporate tax will not apply to a “qualifying public benefit entity” in UAE. The legislation has put
The existence of double taxation is a big issue that most companies meet especially when operating in foreign countries. It arises when a company is subjected to tax on its
Distribution activities are recognized as a qualifying activity under the corporate tax UAE regulations. The latest guidelines on Corporate Tax in UAE Free Zones elaborate on qualifying activities, including distribution.
The corporate tax regime’s treatment of unrealized profits and losses is outlined in section 5.2 of the Corporate Tax Public Consultation Document. Registered businesses are advised to avail of the
Treatment of Foreign Entities is required to determine their taxability and ensure compliance with corporate tax regulations. Federal Decree-Law No. 47 of 2022 on the Taxation of Corporations and Businesses
As the UAE prepared for its shift away from an economy of oil domination, the implementation of corporate tax was unavoidable, especially for large-scale companies. The recent corporate tax rule,
A Holding company can be formed by local or foreign investors to hold shares of other companies or to acquire other assets. One of the main advantages of a holding
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