Corporate Tax Registration is mandatory
In the evolving landscape of global business, free zones in the UAE have emerged as attractive hubs for international trade and foreign investment. Known for their regulatory advantages, including tax exemptions and simplified business setup, UAE free zones are often seen as a strategic gateway for companies expanding into new markets. However, recent updates to […]
How Audits Ensure Compliance with UAE Corporate Tax and Free Zone Rules
Compliance with corporate tax laws and free zone regulations is paramount for sustainable growth and legal integrity. The UAE has refined its tax framework, placing greater emphasis on transparency, economic substance, and alignment with international standards like the OECD’s Base Erosion and Profit Shifting (BEPS) initiatives. These updates reflect the UAE’s commitment to maintaining a […]
UAE Corporate Tax Filing and Registration: Key Deadlines and Requirements
As the first corporate tax filing deadlines draw near for many UAE businesses, ensuring timely corporate tax registration and filing is crucial for compliance with the Federal Tax Authority (FTA). With corporate tax now in effect, understanding the specific requirements for both registration and tax filing will help businesses avoid hefty penalties and meet their obligations within the […]
How will UAE Corporate Tax affect Tax Groups?
The UAE government announced in 2022 the implementation of a Federal Corporate Tax Law which will come into effect starting June 1st, 2023. Today, businesses across the UAE are concerned about their ability to survive in a competitive market with the implementation of Corporate Tax. On the other hand, larger corporations and owners of multiple […]
Will UAE Corporate Tax apply to business in the free zone ?
In December 2022, UAE’s Ministry of Finance announced a new Corporate Tax which will take effect starting June 1st, 2023. While, The UAE hosts many free zone areas which have always been a huge incentive for international corporations to set up their business operations. Entities in the free zone benefit from tax exemptions and many other economic […]
How will UAE Corporate Tax apply to business partnerships?
The Federal Corporate Tax Law in the UAE applies to any taxable business within UAE at a 9% rate on any net profit exceeding AED 375,000 annually. We have discussed in a previous post how Corporate Tax is going to be calculated for different businesses. However, when it comes to business partnerships, the implementation of Corporate Tax […]
What are Tax Losses and how can they be applied to Corporate Tax?
The implementation of the Federal Corporate Tax law in the UAE has many advantages for both the state and businesses within the state. However, many struggling businesses are still concerned about the effect Corporate Tax is going to have on their profits and their ability to survive in a competitive market. We have discussed in […]
How is Corporate Tax calculated in the UAE?
The UAE Government announced the introduction of a Corporate Tax Law which go into effect starting June 1st, 2023. Ever since the announcement of the UAE Corporate Tax, small and large businesses alike have been trying to measure and forecast the effect this tax is going to have on their net profits. So, we asked […]
UAE Corporate Tax: Requirements for Registration, Deregistration & Filing Returns
Since the announcement of a Corporate Tax in 2022, many businesses are still researching the scope of the new federal law and whether it applies to them or not. UAE Corporate Tax is going to take effect starting June 1st, 2023. Therefore, Corporations in the UAE are constantly on high alert for any announcements from the […]
Conditions for Accepting a Small Business Exemption Request from Corporate Tax
The introduction of Corporate Tax in the UAE which will take effect starting June 1st, 2023, has many corporations worried about the profitability of their business. Small businesses are especially concerned not just about their profitability but their ability to survive in a competitive market while liable to Corporate Tax. Therefore, the Ministry of Finance has […]
Who Should Register for UAE Corporate Tax and Is There a Deadline?
The United Arab Emirates (UAE) has recently introduced a Corporate Tax Law that will go into effect starting from or after June 1st, 2023. The new Federal Law was decreed for the taxation of corporations and businesses in the UAE to further cement its position as a global hub for business and investment. UAE Corporate Tax is […]
Understanding UAE Corporate Tax on State-Sourced Income: A Brief Guide for Businesses
The United Arab Emirates’ Ministry of Finance recently issued a Corporate Tax Law which will be implemented by the Federal Tax Authority starting from or after the 1st of June 2023. The UAE Corporate Tax Law issued is comprehensive and includes many articles pertaining to different UAE residents and establishments which is why many individuals are left […]
Impact of transfer pricing rules on Corporate Tax in UAE
Transfer pricing is a term used to describe how transactions within and between businesses are valued. We will help you gain a basic comprehension of transfer pricing laws. A new Corporate Tax system incorporating a transfer pricing scheme will go into effect in the UAE in June 2023. (TP). Transactions involving connected parties and related parties are […]
How to Determine if a Business is Subject to UAE Corporate Tax
Recently, the ministry of finance in the Arab Emirates has introduced a national Corporate Tax schedule. It’s to be incorporated into UAE businesses. The welcome news is that it will commence operation in 2023. Are you wondering what benefits this fresh approach could be to businesses in the Emirates? It’s simple. The purpose of this […]
How To Setup a Small Business in UAE, and How will Corporate Tax Help Business?
Business owners globally prefer to set up small businesses in the UAE for several reasons. Everyone likesflexible situations, and the country offers one of the most adaptable tax mechanisms globally. Tax-freeholidays and a synthetic registration procedure based on your business region are also something youshould look forward to in the Emirates.In any case, you can […]
Corporate Tax FAQs: 15 Top Answers
Corporate Tax in the UAE is a form of direct tax imposed on net income or business profit. The UAE introduced this tax with the aim of strengthening the country’s position as a leading global center for business and investment, in addition to accelerating the country’s development and transformation to achieve its strategic goals and renewing […]
UAE Introduces Federal Corporate Tax for Business Entities
The UAE’s ministry of finance on 31st January 2022, through a press release, announced that it will start imposing federal Corporate Taxes on profits from business entities within the territories starting June 1st, 2023. As stated by the ministry, this will be a move to help minimize the compliance burden imposed on UAE businesses. This will be […]
What are the benefits of Corporate Tax in UAE?
The introduction of Corporate Tax at a 9% rate on any taxable business with profits exceeding 375,000 AED annually is seen by corporations all around the UAE in a mainly negative light. Contrary to how businesses view the implementation of the Federal Tax Law, Corporate Tax doesn’t just limit a resident business’s profits. In fact, […]
Mastering UAE Corporate Tax Savings: 7 Power Moves for 2023 and Beyond
The UAE has a relatively low corporate tax rate of 9%, but there are still a number of ways that businesses can reduce their tax liability. Here are some up-to-date tips: 1. Take advantage of the Small Business Relief (SBR) The SBR is a tax exemption for businesses with annual turnover of less than AED […]
UAE Corporate Tax Registration: Everything You Need to Know in 2023
Who needs to register for corporate tax in the UAE? All businesses operating in the UAE are required to register for corporate tax, regardless of their size or industry. However, there are a few exceptions, including: When do I need to register for corporate tax in the UAE? Businesses with a financial year starting on […]
FTA Corporate Tax Audit: Preparation Tips and Expert Guidance
The FTA’s approach to corporate tax auditing The FTA is taking a risk-based approach to corporate tax auditing, which means that businesses with a higher risk of non-compliance are more likely to be audited. The FTA has identified a number of factors that may increase a business’s risk of non-compliance, including: How the FTA selects […]
Corporate Tax Compliance with Comprehensive Transfer Pricing Documentation
Transfer pricing documentation is a set of documents that multinational enterprises prepare to demonstrate that their intercompany transactions are conducted at arm’s length—meaning the prices and terms are comparable to those that would be agreed upon between unrelated entities. This documentation is crucial for compliance with tax regulations and helps prevent tax evasion and avoidance. […]
UAE Offshore: Corporate Tax & Transfer Pricing Insights
The United Arab Emirates (UAE) has long been a haven for offshore company formation, attracting entrepreneurs and businesses from across the globe with its alluring combination of tax benefits, ease of setup, and strategic location. The introduction of the UAE corporate tax and transfer pricing regulations has ushered in a new era for offshore companies, […]
Decoding UAE Corporate Tax: Gaining Insights into Foreign Source Taxation
UAE Corporate Tax: Unveiling Insights into Foreign Source Income Taxation In the dynamic realm of business, understanding the intricacies of taxation is vital for sustainable growth. For companies operating in the UAE, particularly when dealing with foreign source income, a comprehensive grasp of the tax framework is indispensable. Let’s delve into the key insights derived […]
7 Key Insights from “Exempt Persons: Public Benefit Entities, Pension Funds and Social Security Funds” guide
In this blog post, we’ll distill the key insights from a comprehensive document on tax exemptions for public benefit entities, pension funds, and social security funds, Exempt Persons: Public Benefit Entities, Pension Funds and Social Security Funds, published by FTA. We’ll focus on providing clear and essential information without diving into corporate jargon. 1. Qualifying Public […]
Conquer Corporate Tax in the UAE: Advanced Cases with AM Audit Experts
Feeling overwhelmed by UAE corporate tax? Juggling acronyms like CFCs and Transfer Pricing can leave even the savviest business owner feeling lost. But fear not! AM Audit is your trusted partner, here to illuminate the path and empower you with tax clarity. Here are some special advanced cases and how to react to them in the context of corporate […]
Analyzing the Impact of Corporate Tax on the Tourism Sector
The UAE’s tourism industry remains a critical pillar of the economy, playing a vital role in job creation and contributing significantly to the nation’s growth. Aligned with this importance, the UAE Tourism Strategy 2031, a key initiative under the ‘Projects of the 50’, aims to propel the sector’s contribution to GDP to Dhs450 billion by 2031, reflecting […]
Related Parties in UAE Corporate Tax Law: Definitions and Practical Examples
In the context of the UAE Corporate Tax, a related party is defined based on the relationship between entities or individuals that have the potential to influence each other’s business decisions and operations. This definition aligns with international tax standards, particularly those outlined by the OECD (Organisation for Economic Cooperation and Development). Key Points to […]
Essential UAE Corporate Tax Guide for Small Businesses in 2024
The introduction of corporate tax in the UAE marks a significant shift for businesses across the region, especially small and medium-sized enterprises (SMEs). With new regulations, including the Small Business Relief (SBR) program, small businesses are adjusting to the evolving tax environment as they adapt to new regulations. This article provides an in-depth look at […]
