2022 - Creative Tax & Accounting

23 Nov 22

UAE Corporate Tax: Transfer of Losses Between Group Entities

An insight into the potential corporate tax regime (“CT”) has been provided by the UAE Ministry of Finance (“MoF”) on April 28th. The consultation paper discusses these insights. Please note that the information shared in the consultation is not final. Public consultations support transparency in the UAE and recognize stakeholder…

08 Nov 22

Payroll in the UAE: 5 Things Employers Need To Be Aware of

Payroll management in UAE can be challenging due to complex labor laws and constantly updating of payroll UAE regulations. As part of the UAE government’s efforts to protect the rights and interests of workers, the Ministry of Human Resources and Emiratisation (MOHRE) in 2009 introduced the Wage Protection System (WPS)…

27 Oct 22

Transfer Pricing in UAE – What does it mean?

A federal corporate tax (CT) in the UAE was announced by the UAE Ministry of Finance (MoF) on 31 January 2022. The new CT will come into effect after 1 June 2023. In the MoF’s press release and the Federal Tax Authority’s FAQs, UAE CT regime details are provided. Our…

05 Oct 22

An Accounting guide for Sole Entrepreneurs

The key to being an entrepreneur is creating a business plan that helps you start and run your dream business. By understanding the basics of accounting for sole entrepreneurs, you can manage your finances properly without becoming a financial expert. 1. Business Registration Registering your business is the first step…

22 Sep 22

5 Common UAE VAT Misconceptions

While UAE VAT is often considered a simple tax, the reality is different. In our previous UAE VAT returns articles, we talked about common mistakes made by businesses and what you need to know about the types of VAT in the UAE. In this post, we will cover some of…

01 Sep 22

Accounting For Real Estate In UAE

Understanding Real Estate Accounting There is no doubt that Real Estate in the United Arab Emirates is one of the most booming sectors in the country. Even as inflation rises, Dubai’s real estate market continues to grow. With the UAE real estate sector booming, accounting for real estate has…

18 Aug 22

FTA Tax Audit In UAE

An FTA Tax Audit in UAE is an examination of various records kept by the taxpayers to ensure that their VAT liability is accurate, one of the compliance checks. The FTA may perform a tax audit at the taxable person’s business premises as part of a ‘field tax audit’ or…

11 Aug 22

UAE Corporate Tax Exemptions & Deductions

In two of our previous blogs on UAE Corporate Tax, we have discussed the basics of Corporate Tax UAE and who is subject to UAE Corporate Tax. In this article, we will discuss some additional elements of the corporate tax in the UAE that will affect the ability of UAE businesses…

01 Aug 22

UAE Free Zone Companies Are Not Tax-Free

Many investors and business owners choose to do business in UAE because of its tax free regime (not fully, though!). Following the release of the UAE VAT Law Framework, many businesses have been asking about VAT on free zones. This underlines the importance of the VAT framework. The UAE free…

30 Jun 22

UAE Compliance: Is Your Business Concerned?

UAE authorities are constantly implementing new regulations. It is true to say that starting a new business in the UAE has just gotten a bit more challenging with regulatory requirements at every stage. However, it is meant to keep the UAE as the safest place to conduct business. Hence, new…

Year: 2022