2024 - Creative Tax & Accounting

Minimizing Deductions and Avoiding Penalties

19 Dec 24

Maximizing Deductions and Avoiding Penalties – UAE CT

As the UAE’s new legal framework concerning corporate tax is in place, every business strives to comply. This includes keeping up well with the relevant laws, thus avoiding penalties. However, the goal should not be just minimizing the occurrence of fines but taking maximum deductions. In the UAE, tax laws…

29 Nov 24

Common Tax Pitfalls and Tips to Avoid Them

One of the primary responsibilities of an entity or a businessperson is to avoid potential mistakes in taxation. For instance, a common potential mistake of many businesses is to overlook or be unaware of tax incentives. This will result in a loss of likely monetary benefit for a company. Therefore,…

22 Nov 24

Impact of UAE Corporate Tax on Accounting Practices

After the introduction of corporate tax in the UAE, there are chains of changes in the business world. It is not just about 9% tax but more than that. Accounting profit is the basis for calculating taxable income. Therefore, there is a strong relationship between accounting and taxable income. However,…

15 Nov 24

E-Invoicing in the UAE

The United Arab Emirates (UAE) is very clear about its goal towards a paperless economy. The ultimate aim is to enhance transparency, efficiency, effectiveness, and compliance with the laws. However, it needs support from the government as well as the business community. One of the key components in the digital…

08 Nov 24

Tax Residency and Corporate Tax Obligations in the UAE

The first and foremost particular that impacts corporate tax is the resident status of a company. Therefore, it is important to understand the tax residency guidelines in the UAE. The common differentiating terms in this scenario are resident person and non-resident person. We will explain these in detail in our…

18 Oct 24

Role of De Minimis in Corporate Tax UAE

A free zone person may prefer to become a qualifying free zone person to enjoy 0% corporate tax. However, the 0% rate is only applicable to qualifying income. There are certain requirements that the entities must fulfill to get this incentive. One of these conditions is to meet the de…

14 Oct 24

Fintech – The Future of Finance

Technology isn’t just changing the world; it’s turning it into a tightly-knit, fast-moving “global village.” And nowhere is this transformation more obvious than in finance, thanks to the rise of Fintech. What used to be a manual, painfully slow process has become lightning-fast, automated, and ridiculously efficient. What is Fintech? Fintech…

27 Sep 24

Managing Corporate Tax Losses for UAE Businesses

With a new tax regime in the UAE, businesses will now be liable to pay taxes on their profits. The standard rate of corporate tax is 9% for businesses earning over AED 375,000 in a tax year. However, there is a 0% tax rate for entities with taxable income of…

20 Sep 24

Maintaining Books in Light of Corporate Tax

The new tax regime in the UAE not only brings corporate tax responsibilities but also changes business management. For instance, the calculation of corporate tax requires data that depends on various business documents, such as financial statements. Therefore, there is now a need to manage books that satisfy the tax…

13 Sep 24

Tax Residency Rules in the UAE

We often ask, “What is the resident status of a business?” How is it related to a firm? One significant aspect of this relationship is taxation. This is because taxes are usually applicable based on the resident status of a business. For instance, UAE corporate tax law distinguishes taxable persons…

Year: 2024

Maximizing Deductions and Avoiding Penalties – UAE CT

Common Tax Pitfalls and Tips to Avoid Them

Impact of UAE Corporate Tax on Accounting Practices

E-Invoicing in the UAE

Tax Residency and Corporate Tax Obligations in the UAE

Role of De Minimis in Corporate Tax UAE

Fintech – The Future of Finance

Managing Corporate Tax Losses for UAE Businesses

Maintaining Books in Light of Corporate Tax

Tax Residency Rules in the UAE

Maximizing Deductions and Avoiding Penalties – UAE CT

Common Tax Pitfalls and Tips to Avoid Them

Impact of UAE Corporate Tax on Accounting Practices

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