Corporate Tax

In recent times, there have been massive changes in the fiscal and monetary environment of the UAE. For instance, two new tax systems are now applicable in the region, i.e., value-added tax and corporate tax. The introduction of new taxation in the UAE not only requires a change in calculation…

The UAE is always prominent for its business-friendly policies, and this is yet another pro-business decision. The Federal Tax Authority (FTA) has announced a penalty waiver for late Corporate Tax Registration. This, in turn, supports the UAE business sector and enhances mechanisms that enable taxpayers to meet their tax obligations…

The Federal Tax Authority (FTA) is the ultimate tax regulator in the UAE, covering Corporate Tax, VAT, excise, etc. Therefore, during the initial stages of your business registration process, you file documents that are a record for the FTA. The documents at this stage mainly include information related to business…

Anti-money laundering (AML) refers to laws, regulations, and processes designed to prevent, detect, and report money laundering activities. The primary goal of such laws is to prevent financial crimes such as terrorism financing, corruption, and so on. Therefore, financial institutions and designated businesses are required to monitor transactions and report…

As a global business hub, the UAE always promotes ethical and transparent business practices. One of the aspects in this regard is taxation. When there is an interaction of global business players, there is a need for international cooperation to combat tax evasion. The UAE follows two main standards in…

The growth of any society depends on the quality of research and development that leads to innovation. In the UAE, the government aims to provide benefits and reliefs to firms, leading to high-tech advancements. One such relief is in the form of tax incentives. Taxation responsibilities have a significant impact…

The UAE is committed to going all in for a paperless economy or digital economy, however, in a way that is compliant too. One of the initiatives in this regard is the electronic or e-invoicing program. The new system will be applicable from 2026. It is an arrangement that allows…

In January 2018, the UAE introduced value-added tax (VAT) at a standard rate of 5% on taxable supplies. After nearly five and a half years, from June 2023, businesses are liable for corporate tax (CT) too, with a 9% standard rate. For businesses, these are two different sets of tax…

The introduction of corporate tax in the UAE divides the region into two parts concerning tax obligations. These are segregated into mainland and free zone areas. Depending on the nature of the business, an entity might register in either the UAE mainland or a free zone area. However, there are…