Understanding Corporate Tax Registration Deadlines: A Comprehensive Guide
Navigating the complexities of corporate tax registration can be daunting, especially with varying deadlines based on the type and status of the entity. This guide breaks down the corporate tax registration deadlines for different categories of taxable persons, including Juridical and Natural Persons, both Resident and Non-Resident. Juridical Person: Resident For resident juridical persons, the […]
Dubai Crypto Tax: Everything You Need To Know
Navigating Dubai’s crypto tax landscape is like exploring a constantly evolving financial oasis. As a growing hub for cryptocurrency investors and businesses, Dubai combines regulatory clarity with tax incentives, attracting many to its shores. The city’s legal framework and tax regime are designed to foster growth and innovation in the digital asset sector while offering […]
Dubai Introduces 20% Annual Tax on Foreign Banks
In his role as the Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, has enacted Law No. (1) of 2024 concerning the taxation of foreign banks operating within the emirate of Dubai, henceforth referred to as ‘the New Law’. This legislation supersedes Regulation No. […]
Penalties for UAE Corporate Tax
UAE corporate tax regulations were subject to fines and penalties for businesses that violated them. Enterprises have to be prepared to register for CT and make the required payments as soon as possible in order to avoid fines and penalties. Penalties for UAE Corporate Tax On June 1, 2023, the UAE implemented Corporate Tax, and […]
UAE Corporate TAX Deadline
Determination of the corporate tax period and its deadline for submission Knowledge of taxation is essential for running any business. Businesses operating in the UAE are required to have working knowledge of the system of taxation there, which includes the newly introduced corporate tax. In this article, we will delve into the details of corporate […]
UAE corporate Tax: New Dh10,000 fine announced for late registration
The cabinet decision will come into effect on March 1 On Tuesday, the Ministry of Finance unveiled a fresh penalty of Dh10,000 for individuals who fail to promptly register for corporate tax. This measure aims to motivate taxpayers to adhere to tax regulations by ensuring timely registration. The fine for late tax registration mirrors the […]
FTA guide on the UAE Tax on Foreign Income
On December 12, 2023, the UAE Federal Tax Authority (FTA) issued a Corporate Tax Guide focusing on the Taxation of Extractive Business and Non-Extractive Natural Resources Business.the UAE This comprehensive guide outlines general instructions applicable to individuals engaged in Extractive Business or Non-Extractive Natural Resource Business within the UAE. Key aspects covered in the guide […]
Comparison of UAE Corporate Tax Rates vs. Global Tax Rate
Comparison of UAE Corporate Tax Rates vs. Global Tax Rate In the ever-evolving landscape of international business, understanding corporate tax rates is like charting a course through turbulent waters. Among the varied destinations for investors, the United Arab Emirates (UAE) emerges as a prominent player, boasting tax policies that attract entrepreneurs and corporations alike. In […]
Clarifying Corporate Taxation in the UAE: Employee Bonuses and Commissions Unaffected
The United Arab Emirates (UAE) is renowned for its thriving business landscape and favorable tax environment. However, navigating the intricacies of corporate taxation can still be a daunting task for many business owners. In this blog, we will demystify some common misconceptions surrounding corporate taxation in the UAE and provide you with essential insights to […]
Corporate tax in UAE: 5 key questions answered
The introduction of corporate tax in the UAE on June 1 marks a pivotal step in diversifying revenue sources for the government. Nimish Goel, Partner at WTS Dhruva Consultants, sheds light on key inquiries pertaining to this initiative: Q1: What are the main issues regarding the implementation of corporate tax in the UAE? A1: Implementing […]
