Business Archives - Page 4 of 6 - Creative Tax & Accounting

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…

28 Jun 22

UAE VAT For Freelancers

The UAE has had VAT for four years, and businesses are settling in well to the VAT regime. Taking into consideration the size and expertise of the businesses, they understand the rules and have been able to adapt to the changes. There are, however, some challenges that freelancers and self-employed…

15 Jun 22

Corporate Taxation In The UAE – Who Is Subject To UAE Corporate Tax?

Historically, the UAE has been home to plenty of businesses that have been subject to zero income taxes. With the announcement of federal corporate tax (CT) by the Ministry of Finance (MOF), however, this situation will change. CT will become effective for fiscal years beginning after 1 June 2023. So,…

03 Mar 22

8 Most Common VAT-Related Mistakes Made By Businesses in UAE

VAT was implemented in UAE on January 1, 2018. Since then, businesses are subject to a number of requirements under the VAT Law. Each business enrolled for VAT has an obligation to file VAT returns with the Federal Tax Authority (FTA). However, UAE businesses continue to make VAT-related mistakes and…

15 Feb 22

A welcome relief for UAE businesses: Penalty waivers and penalty installments

A new Cabinet Decree No. 105 of 2021 has been issued related to penalty waivers and penalty installments. The new cabinet decision will become effective on March 1, 2022. In accordance with this law, taxable persons can apply for installment payment or a waiver of administrative penalties in whole or…

04 Feb 22

UAE Introduces 9% Corporate Tax For Businesses From 2023

Some businesses have been drawn to the Gulf nation because of the duty-free regime. Now, a new UAE corporate tax erodes UAE’s tax-free status while Free-Zone entities will continue to receive tax incentives. However, we will see that the new Corporate Tax regime remains very attractive compared to other countries.…

31 Jan 22

3 things to consider when starting a business in UAE: Tax, Accounting & Compliance

Are you planning to start a business in the UAE? Have you already successfully launched your company? There are entrepreneurs and business owners who want to turn the risks of time, money, and effort into a vision of building a business that brings solutions for the future. But often, these…

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