Corporate Tax Savings UAE: Top 5 Strategies for Your Business
The UAE has solidified its reputation as a global business hub, attracting entrepreneurs and multinational corporations with its favorable tax policies and strategic location. However, with the introduction of corporate tax, businesses must now adapt to new compliance requirements while exploring opportunities to minimize tax liabilities. Proper tax planning is no longer optional—it is essential […]
UAE Corporate Tax Residency and Tax Residency Certificate Guide
UAE Corporate Tax Residency and Tax Residency Certificate: A Comprehensive Guide Introduction The United Arab Emirates has become a prominent hub for international business and finance. As the UAE introduces corporate tax, understanding tax residency criteria is essential for companies to optimize their tax status and remain compliant. This guide by NAM Accountants provides insights […]
UAE VAT Law 2024 Update: New E-Invoicing and Compliance Requirements for Businesses
The UAE VAT Law No. 16 of 2024 brings essential updates to VAT compliance, especially in e-invoicing and documentation requirements. As your partner in maintaining VAT compliance, NAM Accountants highlights the changes to help you understand what these adjustments mean for your business operations and VAT handling. 1. New Definitions in VAT Law (Article 1) […]
UAE FTA Grace Period for Tax Record Updates – Avoid Penalties
Grace Period Announced by UAE’s Federal Tax Authority: Update Tax Records Without Penalties UAE FTA grace period is now in effect, allowing businesses the opportunity to update their tax records without penalties. This important update from the Federal Tax Authority offers businesses from January 1, 2024, to March 31, 2025, to comply without fines. The […]
Corporate Tax Saving Strategies for UAE Businesses: Maximize Deductions and Profitability
Corporate Tax Saving Strategies for UAE Businesses: Leveraging Allowable Deductions for Optimal Profitability As the UAE introduces corporate tax, businesses are eager to explore strategies to enhance profitability by leveraging allowable deductions. By adopting effective corporate tax-saving approaches, companies can reduce taxable income and secure substantial financial savings. Here’s a comprehensive overview of the primary […]
Understanding the VAT Reverse Charge Mechanism (RCM) in the UAE
Understanding the VAT Reverse Charge Mechanism (RCM) in the UAE The Reverse Charge Mechanism (RCM) under VAT in the UAE is a specific tax mechanism that shifts the VAT obligation from the supplier to the recipient of goods or services. This mechanism, commonly used for cross-border transactions, eliminates the need for non-UAE-based businesses to register […]
Why Trademark Registration in the UAE for Brand Protection?
Trademark registration is key to success in today’s competitive business world. A well-designed trademark forms the foundation of this identity by protecting your brand’s unique name, logo, or slogan. In the UAE, where global businesses come together, registering a trademark is vital for securing your intellectual property and gaining a competitive edge. This guide explores […]
Impact of VAT on Free Zones in the UAE – Infographic
Following the implementation of VAT, there has been a lot of talk about free zones and designated zones. The Ministry of Finance has clarified certain details regarding these zones and has announced twenty designated zones in the country. Business owners are often confused about the difference between free zones and designated zones. Wouldn’t it be much easier to have a single source […]
UAE Crypto VAT Exemption: What Businesses Need to Know
UAE Crypto VAT Exemption: What Businesses Need to Know In a landmark move, the United Arab Emirates (UAE) has announced a VAT exemption for cryptocurrency transactions, effective from November 15, 2024. This development by the Federal Tax Authority (FTA) aims to clarify the regulatory status of digital assets, treating them similarly to traditional financial services. […]
DMCC Audit Deadline 2024 Extended to September 30, 2024
DMCC Audit Deadline 2024 Extended to September 30, 2024 . The Dubai Multi Commodities Centre (DMCC), renowned as the leading Free Zone and Government Authority in Dubai for commodities trade and enterprise, has extended the audit submission deadline for 2024. Initially scheduled for June 30, 2024, the new deadline has now been moved to September […]
