Business Archives - Page 2 of 6 - Creative Tax & Accounting

13 Dec 24

How Corporate Tax Affects Accounting Practices in the UAE

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…

14 Jun 24

Corporate Social Responsibility – A Pledge to Sustainability

This blog discusses the basic elements of corporate social responsibility (CSR) along with the benefits it reaps for businesses.

29 Feb 24

Corporate Tax Anti-Abuse Rules in the UAE

Corporate tax anti-abuse rules set out details on transactions and arrangements that are tax-abusive. This blog discusses these rules.

16 Feb 24

Corporate Tax for Private Pension Funds in the UAE

Private pension funds may get an exemption from corporate tax but with conditions. This blog highlights the key information on this topic.

04 Aug 23

Tax Evasion and Tax Avoidance: Key Differences

Tax evasion and tax avoidance are two concepts widely used in taxation. Businesses or even individuals can save their tax liabilities through various techniques that are either tax evasion or tax avoidance. Even though these involve saving tax liabilities, there is a massive difference in terms of legality and ethical…

28 Jul 23

Interest Deduction Limitation Rule in UAE Corporate Tax

What is a Tax Deduction or Deductible Expenditure? A tax deduction (or deductible expenditure) is an allowable expense that a business can claim to reduce its overall tax liability. These expenses reduce the income that is subject to taxation and thus decrease the overall tax liability of the business. These…

25 Jul 23

When Shall You Deregister for VAT in the UAE?

The UAE introduced VAT on January 1, 2018, with the standard rate set at 5%. A business must register for VAT if its taxable supplies and imports exceed AED 375,000 in a year. However, a business can also register for VAT on a voluntary basis. In this case, the taxable…

13 Jul 23

Tax Losses in Corporate Tax: Key Factors in the UAE

The UAE is implementing the corporate tax on June 1, 2023. In order to remain attractive for businesses, the UAE has set the standard rate of corporate tax at 9%. However, this 9% rate only applies to businesses that have taxable profits of over AED 375,000. Businesses with taxable profits…

05 Jul 23

Managing Cash Flows in the UAE Volatile Economy: Tips

Cash is crucial for the survival of a business. Experts often comment that a business can survive even at a loss, but it cannot survive without cash. A business requires cash for almost everything, from the payment of salaries, taxes, suppliers, and so on. In a volatile economy like the…

Business