News & Updates
New Attestation Rules for Commercial Invoices in the UAE
Introduction The United Arab Emirates (UAE) is known for its dynamic business environment, attracting international trade and commerce. To ensure transparency and regulatory adherence in this thriving landscape, the UAE government introduced Cabinet Resolution (38) of...
The UAE Strengthens Tax Regulations with New Transfer Pricing Requirements
The United Arab Emirates (UAE) has taken a significant stride in enhancing its tax regulations with the issuance of Ministerial Decision No. 97 of 2023. This decision, enacted by the Minister of State for Financial Affairs, introduces vital requirements for...
How AI is Changing the Way We Think About Taxes
Credit: aiwhim.com The Use of AI in Taxation The use of artificial intelligence (AI) and machine learning in taxation is a broad spectrum, from the simple processing of data and forms to the complex implementation of algorithms that can predict the likelihood of a...
Tax and Financial Automation
Tax and Financial Automation Robotic Process Automation (RPA) is a technology that can automate tax and financial automation structured and repetitive processes that are based on sets of rules. RPA enables these processes to be automated in a more efficient and...
New Tax Regulations for Businesses
New Tax Regulations for Businesses The Ministry of Finance has issued a new executive regulation that amends the Federal Tax Authority's (FTA) regulations on tax registration, deregistration, and amending details of registration. The regulation also expands the list...
Reconciliation Process Of Tax Evasion Crimes
Tax Evasion Crimes⸺The UAE has a strict policy against tax evasion, and those who are found guilty of this crime can face significant penalties. However, the Federal Tax Authority (FTA) offers a reconciliation process for individuals who have committed tax evasion...
Corporate Tax Treatment of Real Estate
Introduction Real Estate⸺On May 8, 2023, the Cabinet of Ministers issued a Decision No. (49) of 2023 that specifies the categories of businesses or business activities that are subject to corporate tax for resident and non-resident natural persons under the Corporate...
Obtain Your Tax Residency Certificate in the UAE
Introduction Tax Residency Certificate⸺On September 9, 2022, the United Arab Emirates (UAE) Cabinet of Ministers [took action] by issuing Decision No. 85 of 2022, which establishes the criteria for determining when a legal or natural person will be considered a tax...
UAE to Implement Mandatory E-Invoicing System
Introduction UAE to Implement Mandatory E-Invoicing System⸺The United Arab Emirates (UAE) has introduced a mandatory electronic invoicing system for businesses. Thus, all businesses operating in the UAE must transition to electronic invoicing. A new policy is...
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