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UAE Corporate Income Tax Regulations: Accounting Standards and Tax Obligations
- 26.04.2024
- Posted by: Uwe Hohmann
- Categories: Tax, Middle East
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Businesses operating in the UAE must align their accounting practices with the standards set by the Federal Tax Authority to avoid penalties and optimize tax positions.
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Exploring Business Opportunities in the UAE Tourism Sector
- 20.04.2024
- Posted by: Uwe Hohmann
- Category: Middle East
The projected increase in employment and visitor spending within the UAE’s tourism sector for 2024 offers opportunities for entrepreneurs to establish and expand businesses in hospitality, travel, and related services.
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UAE Dirham Strength Against a Fluctuating Euro
- 13.04.2024
- Posted by: Uwe Hohmann
- Categories: Middle East, Europe
For EU-origin and UAE-based businesses, the recent dip in the Euro offers cost advantages and enhanced investment potential in the Eurozone.
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UAE: Understand the Corporate Income Tax for Partnerships
- 02.04.2024
- Posted by: Uwe Hohmann
- Categories: Dubai, Middle East
The UAE’s Federal Tax Authority has released a comprehensive guide on Corporate Income Tax for partnerships, detailing taxation rules, compliance, and reliefs to ensure proper adherence to tax laws.
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Dubai: Business Setup with Unified Digital Platform
- 27.03.2024
- Posted by: Uwe Hohmann
- Categories: Dubai, Middle East
Dubai launches a Unified Digital Platform to streamline business setup processes, backed by Sheikh Hamdan’s resolution to enhance the investor journey.
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Inflation Decrease in Dubai
- 20.03.2024
- Posted by: Uwe Hohmann
- Categories: Dubai, Middle East
Dubai witnessed a decrease in annual inflation to 3.36% in February, driven by lower transportation and discretionary spending costs, alongside robust non-oil private sector growth.
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Accounting Standards in Dubai
- 11.03.2024
- Posted by: Uwe Hohmann
- Categories: Dubai, Middle East
Businesses in Dubai are legally required to maintain accurate financial records, prepare annual financial statements in accordance with IFRS, undergo annual audits, ensure VAT compliance, and retain records for a specific period
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UAE: Impending Exit from FATF Grey List
- 08.03.2024
- Posted by: Uwe Hohmann
- Categories: Dubai, Middle East
The UAE is set to exit the FATF’s “grey list” after addressing deficiencies in its AML, CTF, and anti-proliferation financing frameworks, promising smoother international transactions for MNCs.
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IMPORTANT: The Timelines for Registration of Taxable Persons for UAE Corporate Tax
- 02.03.2024
- Posted by: Uwe Hohmann
- Categories: Dubai, Middle East
The Federal Tax Authority’s Decision No. 3 of 2024 introduces specific registration timelines for taxable persons under UAE Corporate Tax, effective from 01.03.2024, with penalties for non-compliance.
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Understanding Transfer Pricing
- 21.02.2024
- Posted by: Uwe Hohmann
- Categories: Dubai, Middle East
The introduction of transfer pricing regulations in the UAE highlights the need for companies to ensure transactions between entities are conducted at arm’s length, aiming for transparency and compliance in international business operations.
