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 […]
UAE Corporate Tax & Compliance Guide: 2024 Updates You Need to Know
The UAE has introduced several significant changes to its corporate tax and compliance landscape. These changes are crucial for companies offering accounting, auditing, tax, regulatory compliance, AML, and business and finance advisory services. Below, we outline the most critical updates and their implications for businesses operating in the UAE. Corporate Tax Regime The UAE’s new […]
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 […]
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 […]
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, […]
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 […]
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 […]
Hidden Aspects of the Corporate Tax and VAT Intersection in the UAE
Move over, surface-level understanding – it’s time to delve into the hidden intricacies of how Corporate Tax and VAT intertwine in the UAE. In this intricate landscape, knowledge is your most valuable asset, so fasten your seatbelts for an insightful exploration! Hidden Deduction Gems: Beyond the 5% VAT Veil: Proactive Strategies for Minimizing Risks: Stay […]
Case Study: Business Restructuring of a Trading LLC in Dubai, UAE
Company Overview Industry: Wholesale and Retail TradeLocation: Dubai, UAEEstablished: 2005Revenue (2023): AED 300 millionEmployees: 200Challenges: Declining profitability, high operational costs, regulatory compliance issues, inefficient tax planning, and lack of internal control mechanisms. Pre-Restructuring Analysis Financial Health Assessment An in-depth financial analysis revealed several issues: Operational and Strategic Assessment Compliance and Regulatory Issues Restructuring Strategy The restructuring strategy focused on financial, operational, […]
