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Interest Deductions in the UAE Corporate Tax
- 19.10.2023
- Posted by: Malavika Kolera
- Categories: Accounting, Dubai, Tax
No CommentsThe 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: Derya Bandak
- Categories: Dubai, Tax
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: Dubai, Tax
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: Dubai, Tax
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: Dubai, Tax
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: Accounting, Dubai, Tax
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: Accounting, Dubai, Tax
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: Dubai, Tax
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.
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FTA Renews Call for Registration for Corporate Tax
- 28.09.2023
- Posted by: Derya Bandak
- Categories: Dubai, Tax
The Federal Tax Authority (FTA) of the UAE is urging all types of companies to finalize their Corporate Tax registration in accordance with the new Taxation of Corporations and Businesses Law.
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Ensuring Arm’s Length Opening Balances in UAE’s Corporate Tax Era
- 27.09.2023
- Posted by: Uwe Hohmann
- Categories: Dubai, Tax
Ensuring arm’s length opening balances in compliance with UAE’s Article 61(2) and IFRS standards is pivotal for transparent, accurate tax reporting and minimizing future tax liabilities.
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