Introduction – Chapter 12 – Tax Group Provisions under the UAE Corporate Tax Law Due to liberalisation and globalisation of international trade, corporate entities have expanded their business beyond domestic boundaries. also called as Multinational enterprises or MNEs. They have established business houses and operations across foreign jurisdictions, creating complex frameworks for its business activities. … Read more

Introduction – Chapter 7 – Exempt Income under the UAE Corporate Tax Law Any portion of income which is not taxed according to a country’s Income Tax law is termed as Exempt Income. Such incomes are not included in the calculation of Total Income on which tax is payable. Let us look at the provisions … Read more

Introduction The UAE Corporate Tax Law exempts a Qualifying Public Benefit Entity from Corporate Tax if it fulfills certain conditions. The Cabinet Decision has brought forth certain guidelines for Qualifying Entities. Which entities are Qualifying Public Benefit Entities? The Schedule annexed to the decision identifies the entities that are considered Qualifying Entities as per Article … Read more

Introduction to Accounting Standards  The United Arab Emirates (UAE) has recently introduced significant updates to its Corporate Tax law, aiming to enhance transparency, standardize accounting practices, and promote economic growth. These changes have a profound impact on businesses operating in the UAE and require a comprehensive understanding of accounting standards.   Preparation of Financial Statements … Read more

UAE Corporate Tax – Taxation of Non Residents Introduction Non – Resident’s income will be subject to corporate tax in UAE,  only if : – Income of Non – Resident which is sourced in the UAE. ; or Non – Resident have a Permanent establishment in UAE and the income is derived from such Permanent … Read more

Introduction – Chapter 6 – Calculating Taxable Income under the UAE Corporate Tax Law Chapter 6 of the UAE Corporate Tax Law, details the rules and regulations for Calculating Taxable Income of a Taxable Person for determining the Corporate Tax Payable under the Law. The rules and regulations aim to reduce administrative complexity as well … Read more

Introduction – Chapter 16 Tax Registration and Deregistration Chapter 16 of the UAE Corporate Tax Law mandates Taxable Persons, to register themselves under the corporate taxation regime. It provides the procedure for Tax Registration (if engaged in active business in the UAE) and Tax Deregistration (if business operations cease). Let’s take a look at them. … Read more

Introduction – Chapter 14 Payment and Refund of Corporate Tax under the UAE Corporate Tax Law At the end of every Tax Period, Corporate Tax under the UAE Corporate Tax Law becomes due for a Taxable Person.  This is called Corporate Tax Payable. It can also become due for payment for one or more Tax … Read more

UAE Economic Substance Regulation UAE Economic Substance Regulations are applicable from 01 January 2019. The Economic Substance Regulations in UAE is applicable to UAE mainland companies,  UAE free zone companies and other UAE business forms that carry out any of the following ‘Relevant Activities’. UAE economic substance rules are designed to ensure that companies which … Read more

Introduction The UAE Government recently issued a Cabinet Resolution detailing guidelines for determining tax residency of natural and legal persons in the UAE. Prior to the Resolution, there was no statutory definition for UAE Tax Residency. However, in order to adapt to the international taxation regime and the dynamic global economy, the UAE drafted the … Read more