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UAE CT FTA - Blog
27 Apr 23

UAE CT -FTA Published Conditions for Change in Tax Period

UAE CORPORATE TAX UPDATE-FTA publishes decision No 5 of 2023 on the Conditions for Change in Tax Period. The FTA has issued  Federal Tax Authority Decision No. 5 of 2023 on the Conditions for Change in Tax Period. This Decision shall be published in the Official Gazette and shall come…
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TAX Group
27 Apr 23

UAE CT- TAX GROUPS AND QUALIFYING GROUPS

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…
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How to calculate Taxable Income?
26 Apr 23

HOW TO CALCULATE TAXABLE INCOME-UAE CORPORATE TAX

On December 9, 2022, Federal Tax Authority (the FTA) issued Federal Decree-Law No. 47 of 2022 on the Taxation of Corporations and Business (the CT Law). According to this law, businesses will become subject to UAE Corporate tax from the beginning of their first financial year that starts on and…
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UAE Corporate TAX Registration
11 Apr 23

UAE Corporate Tax Update – Exemption from Tax Registration

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 10th April 2023, Ministerial…
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CHAT GPT
11 Apr 23

HOW CAN ACCOUNTANTS USE CHATGPT

HOW CAN ACCOUNTANTS USE CHATGPT In today’s world a new wave of software is making ground-breaking history. ChatGPT, from AI startup Open AI, is an AI-powered chatbot whose level of sophistication has taken the business world by storm like no other chat platform before it. What is Chat GPT? ChatGPT…
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UAE CORPORATE TAX - Blog
11 Apr 23

UAE Corporate Tax Update -Annual Taxable Income Threshold

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…
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FAQs on Ultimate Beneficial Owner
16 Jan 23

Ultimate Beneficial Owner UAE FAQs

What is an Ultimate Beneficial Owner? The natural person who ultimately owns or controls the Legal Person, whether directly or through a chain of ownership or control or any-other indirect means, and also the natural person on whose behalf the transactions are being conducted or who exercises ultimate control over…
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FAQs AML
13 Jan 23

Anti-Money Laundering FAQs

What is Money Laundering? Money laundering is defined as any financial or banking transaction aimed at concealing or changing the source of illegally obtained funds, by passing it through the financial and banking system in order to make it appear as originating from legitimate sources, and then re-pumping and investing…
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