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Requirements for Maintaining Transfer Pricing Documentation (UAE Corporate Tax)
- 24.10.2023
- Posted by: Uwe Hohmann
- Categories: Tax, Accounting, Dubai
No CommentsMinisterial Decision No. 97 of 2023 details the requirements for maintaining Transfer Pricing Documentation under the UAE’s new Corporate Tax Regime, specifying conditions for Master and Local File maintenance and clarifying the inclusion of Related and Connected Persons.
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Small Business Relief in the UAE Corporate Tax Regime
- 23.10.2023
- Posted by: Uwe Hohmann
- Categories: Tax, Accounting, Dubai
The Small Business Relief in the UAE Corporate Tax regime offers eligible businesses with revenues below AED 3,000,000 simplified tax return procedures and exemption from Corporate Tax.
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Interest Deductions in the UAE Corporate Tax
- 19.10.2023
- Posted by: Malavika Kolera
- Categories: Tax, Accounting, Dubai
The Federal Decree Law No. 47 of 2022 outlines provisions for interest expenditure deductions, allowing up to 30% of the EBITDA with exceptions for net interest below AED 12 million, specific rules for related party transactions, and exceptions if no corporate tax advantage is sought.
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Dubai Chamber of Digital Economy Releases Comprehensive Guide for Startups
- 18.10.2023
- Posted by: Uwe Hohmann
- Categories: Tax, Dubai
The Dubai Chamber of Digital Economy has released a comprehensive guide titled ‘Building Your Business in a Dynamic City: The Entrepreneur’s Guide to Business Setup in Dubai,’ aiming to assist startups in navigating the emirate’s digital ecosystem.
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The UAE’s 0% Corporate Tax for Qualifying Free Zone Persons (QFZP)
- 16.10.2023
- Posted by: Omar Sami
- Categories: Tax, Dubai
The United Arab Emirates has introduced a 0% corporate tax rate for Qualifying Free Zone Persons (QFZP) operating within UAE Free Zones, contingent on specific criteria and income qualifications.
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Understanding the Tax Loss Provisions in the UAE
- 13.10.2023
- Posted by: Malavika Kolera
- Categories: Tax, Dubai
Federal Decree Law No. 47 of 2022 introduces key changes in UAE’s tax landscape, allowing businesses to adjust previous year’s tax losses against subsequent tax periods, with specific conditions for offset and transfer.
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Permanent Establishments in UAE’s Corporate Income Tax Regime
- 12.10.2023
- Posted by: Derya Bandak
- Categories: Tax, Dubai
Understanding the concept of a Permanent Establishment (PE) is essential for businesses operating in the UAE to ensure compliance with the country’s corporate income tax regulations.
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Unincorporated Partnerships in the UAE and Their Tax Treatment
- 10.10.2023
- Posted by: Omar Sami
- Categories: Tax, Accounting, Dubai
Unincorporated partnerships in the UAE are flexible entities without separate legal personalities, subject to unique tax treatments where partners are taxed individually on their share of income, and can opt for corporate taxable status, while needing to align with UAE’s Commercial Companies Law for specific commercial activities.
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UAE Corporate Tax and IFRS Compliance: A Guide to Financial Reporting
- 09.10.2023
- Posted by: Malavika Kolera
- Categories: Tax, Accounting, Dubai
The Federal Decree Law No. 47 of 2022 in the UAE necessitates that Taxable Persons adhere to IFRS, placing heightened importance on IAS 12 for effective tax accounting and compliance.
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VAT: UAE Introduces Reverse Charge Mechanism to Boost Electronics and Computer Trade
- 29.09.2023
- Posted by: Derya Bandak
- Categories: Tax, Dubai
The UAE has introduced a Reverse Charge Mechanism in VAT regulations to streamline tax compliance and boost the electronics and computer trade, allowing VAT-registered buyers to self-account for VAT.
