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UAE CORPORATE TAX – QUALIFYING GROUP AND TAX GROUP Large businesses often conduct their operations through a group of companies, which has a parent company and a number of subsidiaries. By forming a corporate tax group in the UAE, businesses can also enjoy benefits such as better tax planning ,reduction of administration costs, offsetting tax […]

The United Arab Emirates will soon be introducing Corporate Tax, effective for financial years starting on or after 1 June 2023, applicable on the net profit of companies or other businesses in accordance with Federal Law No.47 of 2022 on Taxation of Corporations and Businesses. On 6th April 2023, Ministerial Decision No. 73 of 2023 […]

As per Article 3 of the Federal Decree Law No 47 on “Taxation of Corporations and Businesses”, in UAE for financial years beginning on or after 1st June 2023, the threshold of annual taxable income chargeable to corporate income tax at the rate of 0% for Taxable Person was to be specified separately by a Cabinet Decision. […]

Dubai Customs Notice No. 5 of 2022 (Notice) issued in June 2022, have come into effect from January 1, 2023 Following notice from Dubai Customs – Notice No. 5 of 2022 – items with a value above AED 300 are now subject to customs clearance and customs duties. All goods with value that does not […]

The Federal Decree-Law No. (47) of 2022 on the Taxation of Corporations and Businesses (hereinafter referred to as the “Corporate Tax Law”) was issued by the United Arab Emirates (“UAE”), on 09 December 2022. The Corporate Tax Law provides the legislative basis for the introduction and implementation of a Federal Corporate Tax (“Corporate Tax”) in the UAE […]