Understanding Corporate Tax Exclusions for Natural Persons in the UAE
In recent years, the United Arab Emirates (UAE) has been working towards enhancing its tax framework to create a favorable business environment. One of the notable changes is the introduction of the UAE Corporate Tax Law, accompanied by a Cabinet Decision that specifies the categories of businesses and activities subject to corporate tax. This development […]
UAE Cabinet Decision Enhances Corporate Tax Framework for Business Activities
The Ministry of Finance has announced the issuance of UAE Cabinet Decision No. (49) of 2023, which pertains to the treatment of individuals, both resident and non-resident, engaged in business or business activities for the purpose of Corporate Tax Law. UAE’s dedication to maintaining a transparent and competitive tax framework that benefits local and […]
Trade License is not renewed, beware of penalities
“A valid license in Dubai is a free pass to run a business anywhere in the United Arab Emirates. License owners should check for license renewals as needed. If you do not renew your license on time, you will have to pay a heavy fine. DED and other UAE government agencies have made it mandatory […]
Economic Substance Compliances for FYE 31 December 2022 (Due date 30 June 2023)
You may be aware that UAE Economic Substance Requirements (‘ESR’) compliance is required to be made on an annual basis for the covered entities carrying out prescribed activity(ies). Recently, we have seen notices/ e-mails from relevant authorities monitoring and following up with companies within their jurisdiction to comply with the ESR reporting requirements. One such […]
24-Hour Urgent Visa Services to Offer UAE’s Fastest Visa Processing
Golden Visa Consultant in Dubai, UAE Obtaining a UAE visa in a day can be a tricky proposition, and the processing time can vary depending on the applicant’s eligibility and the workload of the immigration authorities.Applicants should plan ahead and allow sufficient time for visa processing to avoid any delays or issues with their travel […]
Ministerial Decision for exceptions to UAE CT registration issued
The Ministry of Finance has issued Ministerial Decision No.43 of 2023 (‘the Decision’) dated 10 March 2023 on the exceptions from registration for UAE Corporate Tax (‘UAE CT’) for the purpose of Federal Decree-Law No. 47 of 2022 on the Taxation of Corporations and Businesses (‘UAE CT Law’). The Decision provides exception to the following […]
Small Business Relief as per UAE Corporate Tax- Ministerial Decision No. 73 of 2023
The Ministry of Finance has issued Ministerial Decision No. 73 of 2023 on Small Business Relief for the purposes of Federal Decree-Law No. 47 of 2022 on the Taxation of Corporations and Businesses (the “Corporate Tax Law”). The decision is issued in accordance with Article 21 of the Corporate Tax Law, which treats the taxable […]
DUBAI’S VARA issues specialised regulations for Bitcoin & virtual assets
Dubai’s Virtual Asset Regulatory Authority (VARA) has recently released its Virtual Assets and Related Activities Regulations 2023, which outline a comprehensive framework for virtual assets (VA) based on principles of economic sustainability and cross-border financial security. This move demonstrates the UAE’s commitment to updating its oversight and regulatory approach to address global risks associated with […]
UAE: Authority announces new code of ethics for Accountants & Auditors
A new code of ethics which will be applicable to accountants and auditors of financial statements has been rolled out in Abu Dhabi. The Abu Dhabi Accountability Authority (ADAA) announced the adoption of “Code of Ethics” based on the standards issued by the International Ethics Standards Board for Accountants (IESBA). The announcement was made during […]
UAE Golden Visa: Cost and Application
Over 100,000 Golden visas have been issued in the UAE since the announcement day (October 3).In this article, you may find information on how to apply for the new visa types with costs and steps. Applying Through Government Channels Candidates who meet the requirements can use the GDRFA-Dubai Smart Application to apply for a […]
