The UAE has just recently made headlines by revealing a plan for steep fines for businesses that don’t comply with the Electronic Invoicing System (EIS). According to new regulations, companies
Corporate Tax
Business Restructuring Relief is conferred in Article 27 of the Corporate Tax Law and enables businesses to avert challenges concerning taxes during specific restructuring operations. This relief allows businesses to
Companies in the UAE are now looking for ways to potentially lower the amount of corporate tax that they have to pay. Even if it is essential for companies to
As part of its goal to become a significant worldwide Centre for business and investment, the UAE has implemented a competitive CT system in light of current international tax trends.
The UAE corporate tax regime is designed to incorporate best practices worldwide and decrease the burden of compliance on different types of businesses. The regime also covers corporate tax concerning
Ministerial Decision No. 82 of 2023 requires taxable persons to prepare and maintain audited financial statements that comply with the International Financial Reporting Standards (IFRS) for tax purposes. To ensure
For corporate tax purposes, Exempted Persons are required to comply with the Federal Tax Authority Decision No. 11 of 2023, which requires exempt persons to submit a declaration to confirm
A declaration under corporate tax is a statement that a taxable person must submit to the FTA to report their income and expenses for a financial year and calculate their corporate
Corporate Tax Audits UAE is a mandatory process to check if companies comply with tax regulations and report their tax liabilities correctly. An auditor reviews a company’s financial statements, tax
The “Corporate Tax Law,” Federal Decree-Law No. (47) of 2022, was implemented in the UAE on December 9, 2022, and effected on June 1st, 2023. This initiative aims to bolster
In acknowledgment of the importance of communication with the business sector and other interested parties, the UAE Ministry of Finance announced on April 28, 2022, a public consultation on a
A tax assessment verifies the authenticity and completeness of the filed tax returns and calculates the total tax payable. The Federal Tax Authority enforces authority for Corporate Tax Law, including
