by AJ Diaz | Aug 3, 2023 | Tax & Compliance
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...
by AJ Diaz | Jul 31, 2023 | Tax & Compliance
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...
by AJ Diaz | Jul 26, 2023 | Tax & Compliance
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...
by AJ Diaz | Jul 24, 2023 | Business Setup, Tax & Compliance
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...
by AJ Diaz | Jul 19, 2023 | Tax & Compliance
Introduction The free zone corporate UAE is a designated geographic area within a country that is set up to attract foreign investment and promote economic growth. Free zones typically offer a range of incentives to businesses, including tax breaks, streamlined...
by AJ Diaz | Jun 20, 2023 | Tax & Compliance
Understanding Taxable Income in the UAE — Taxable Income is a crucial concept in determining the tax liability of businesses. In the United Arab Emirates (UAE), taxable income is derived from the accounting net profit or loss, with certain adjustments as defined by...
Arabic
Russian
