Tax Archives - Page 2 of 3 - Creative Tax & Accounting

26 May 23

Group and Restructuring Reliefs in the UAE Corporate Tax

From June 1, 2023, the UAE is going to introduce corporate tax. Under the current guidelines, businesses that earn taxable profits of over AED 375,000 will pay 9% corporate tax. However, businesses with annual taxable income of less than AED 375,000 will have 0% corporate tax. In order to become…

05 May 23

Impact of Corporate Tax on SMEs in the UAE

A corporate tax is a tax that is applicable to the taxable profits of a company. Taxable profit is the profit after all allowable expenses as per the tax laws of a country. In the UAE, the concept of corporate tax is under debate after the introduction of a new…

19 Apr 23

Penalties for Violations of Tax Laws in the UAE

Taxes are one of the prime sources of revenue for most economies. Tax compliance is important for the smooth functioning of the overall economy of a country. Governments need to collect taxes timely and completely in order to provide essential services to the citizens. However, the collection of taxes is…

01 Feb 23

UAE VAT Updates: 13 Key Changes in 2023

There have been some changes to specific provisions of the UAE Value Added Tax (VAT) regime announced by the UAE Ministry of Finance. The Federal Decree-Law No. 18 of 2022 introduces 24 changes. VAT is a type of indirect tax based on general consumption. Most countries impose VAT on most…

UAE Corporate Tax - Overview of the federal decree-law n47 of 2022

11 Jan 23

UAE Corporate Tax Law: Overview of the Federal Decree-Law No. 47 of 2022

On 9 December 2022, the Ministry of Finance released the Federal Decree-Law No. 47 of 2022. ‘Taxation of Corporations and Businesses’ in the public domain. The corporate tax (CT) law guides regarding different aspects of corporate tax and its implications on UAE businesses. A cabinet decision is awaited to provide…

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…

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…

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…

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…

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…

Tax

Group and Restructuring Reliefs in the UAE Corporate Tax

Impact of Corporate Tax on SMEs in the UAE

Penalties for Violations of Tax Laws in the UAE

UAE VAT Updates: 13 Key Changes in 2023

UAE Corporate Tax Law: Overview of the Federal Decree-Law No. 47 of 2022

UAE Corporate Tax: Transfer of Losses Between Group Entities

Transfer Pricing in UAE – What does it mean?

5 Common UAE VAT Misconceptions

FTA Tax Audit In UAE

UAE Free Zone Companies Are Not Tax-Free

Taxation of Online Businesses in the UAE

The Role of Tax Consultants for UAE Businesses

General Rules for Determining Taxable Income in the UAE

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