Author Page | Insights & Updates from AAA-CAS Admin

10 May, 22

Tax Group Key Features- Under UAE Corporate Tax Law Consultation Document

𝐓𝐀𝐗 𝐆𝐑𝐎𝐔𝐏 𝐊𝐄𝐘 𝐅𝐄𝐀𝐓𝐔𝐑𝐄𝐒 𝐔𝐀𝐄 𝐂𝐎𝐑𝐏𝐎𝐑𝐀𝐓𝐄 𝐓𝐀𝐗 𝐋𝐀𝐖 𝐂𝐎𝐍𝐒𝐔𝐋𝐓𝐀𝐓𝐈𝐎𝐍 𝐃𝐎𝐂𝐔𝐌𝐄𝐍𝐓 On 31 January 2022, the UAE Ministry of Finance announced the introduction of Federal Corporate Tax (CT) in UAE w.e.f. 1 June 2023. While the UAE Federal Tax Authority (FTA) is finalizing the UAE CT regime, on 28 April 2022, it issued a public consultation […]

06 May, 22

Calculation of Taxable Income and Exemption under UAE Corporate Tax Law Consultation Document

𝐔𝐀𝐄 𝐂𝐎𝐑𝐏𝐎𝐑𝐀𝐓𝐄 𝐓𝐀𝐗 𝐋𝐀𝐖 𝐂𝐎𝐍𝐒𝐔𝐋𝐓𝐀𝐓𝐈𝐎𝐍 𝐃𝐎𝐂𝐔𝐌𝐄𝐍𝐓 𝐊𝐄𝐘 𝐅𝐄𝐀𝐓𝐔𝐑𝐄𝐒 Calculation of Taxable Income Exemptions On 31 January 2022, the UAE Ministry of Finance announced the introduction of Federal Corporate Tax (CT) in UAE w.e.f. 1 June 2023. While the UAE Federal Tax Authority (FTA) is finalizing the UAE CT regime, on 28 April 2022, it issued […]

05 May, 22

PROPOSED UAE CORPORATE TAX LAW FREE ZONE COMPANIES

𝐔𝐀𝐄 𝐂𝐎𝐑𝐏𝐎𝐑𝐀𝐓𝐄 𝐓𝐀𝐗 𝐋𝐀𝐖𝐅𝐑𝐄𝐄 𝐙𝐎𝐍𝐄 𝐂𝐎𝐌𝐏𝐀𝐍𝐈𝐄𝐒𝐂𝐎𝐍𝐒𝐔𝐋𝐓𝐀𝐓𝐈𝐎𝐍 𝐃𝐎𝐂𝐔𝐌𝐄𝐍𝐓 UAE Ministry of Finance has released a public consultation document on UAE Corporate Tax (UAE CT) to seek views on its features and implementation. What is the purpose of a public consultation?The document contains information on the proposed Corporate Tax (‘CT’) regime and is released for the purposes […]

29 Apr, 22

Tourist VAT Refund Scheme- Guide for UAE Retailers

VAT refund scheme in UAE makes it possible for eligible tourists to receive a portion of VAT as a refund for products bought at registered stores. VAT amount can be claimed from an electronic system, at designated spaces, without any human interference. Once tourists submit the required documents, the digital system decides whether the taxes are […]

27 Apr, 22

UAE TAX FREE SHOPPING-HOW TOURIST CAN CLAIM VAT REFUND

WHAT IS TAX FREE SHOPPING? Tax Free shopping is the purchasing of certain taxable goods in the UAE which will be exported (subject to terms and conditions) whereby shoppers can obtain a refund of the VAT charged on these goods, providing that they validate their purchases at the point of exit. Tourist will refund 85% […]

25 Apr, 22

VAT Refund for Foreign Businesses IN UAE

Foreign businesses / business visitors should check if they are eligible to make a claim for fund of VAT paid on the goods purchased or services purchased in/ from UAE. FTA has provided the guidance on how to apply for such business visitors VAT refund through ‘VAT Refund Scheme for Foreign Businesses’ by submitting the […]

22 Apr, 22

WHY AND HOW TO DO BUSINESS VALUATION

“Valuing a business is part art and part science.”— Warren Buffett WHY YOU NEED A BUSINESS VALUATION Understand Potential for Growth Ensure Proper Protection of Your Asset Develop a Succession or Sale Plan For Buy-Sell Agreements with Partners To Work with Lenders Strategize for Future Acquisitions THREE BUSINESS VALUATION METHODS Business valuation is the process […]

20 Apr, 22

THE GAME OF CHESS AND BUSINESS

Game of chess is a Mind Game and you have a picture of how the whole game will play out. Chess and business both involves a lot of strategies. business strategists can learn from each and every piece in the game of chess. CHESS A MENTAL GAME You sit in a chair, staring at a chess […]

18 Apr, 22

HOW TO LIQUIDATE COMPANY IN THE UAE

HOW TO LIQUIDATE COMPANY IN THE UAE The legal procedure by which the corporate life of a company is brought to an end is known as liquidation, which may be defined as “The termination of legal existence of company by closing its business.” On liquidation, a company’s business license is revoked, its name is removed from […]

14 Apr, 22

ANTI-MONEY LAUNDERING- BATTLEFIELD FOR ACCOUNTANTS

Money laundering helps illicit organizations by lowering their cost of capital, giving them a competitive advantage over legitimate businesses. When a criminal activity generates substantial profits, the individual or group involved must find a way to control the funds without attracting attention to the underlying activity or the persons involved. Criminals do this by disguising […]

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