Introduction There is a significant development in the realm of taxation in relation to unincorporated partnerships, foreign partnerships, and family foundations. In this article, we will delve into the key aspects of the Ministerial decision and explore its implications.  Unincorporated Partnerships not to be considered as a Taxable Person in its Own Right  Article 2 … Read more

INTRODUCTION   UAE Corporate Tax Law specifies the conditions for Qualifying Income (“QI”) of Qualifying Free Zone Person (“QFZP”) which is exempted from taxation. Firstly, a Free Zone is a geographic area which is defined and decided by the Cabinet. A Free Zone Person is any legal person that is incorporated, established or registered in the … Read more

Introduction: Incorporating a company in the United Arab Emirates (UAE) involves several steps and considerations. The UAE is known for its business-friendly environment, tax benefits, and strategic location, attracting many entrepreneurs and investors. Steps for Incorporating a Company in UAE: Determine the type of company: The UAE offers various types of business entities, including mainland … Read more

Introduction  UAE MOF has come up with an update helping in framing guidelines for Business Restructuring as per Article 27 of the UAE Corporate Tax Law.  What is Transfer in Exchange for Shares and Other Forms of Consideration?  A transfer takes place when the market value received in addition to the shares or interest does … Read more

Introduction  The Ministerial Decision provides direction for the application of transfer within the same Qualifying Group under the UAE Corporate Tax Law. In this regard, the policies and processes for transfers within a Qualifying Group are described.   What is an Ownership Interest for Transfer within the same Qualifying Group?  Taxable Person holding any one … Read more

Introduction The Ministerial Decision by the UAE has brought forth certain guidelines regarding the Tax Groups as per Article 40 of the UAE Corporate Tax Law.  What are the Ownership Requirements?   It is necessary to fulfill the continuous requirements listed in Article 40(1) of the UAE Corporate Tax Law for the complete duration of the applicable … Read more

Introduction  The effect of UAE Corporate Tax Law is immense on international businesses. United Arab Emirates (UAE) is a leading global hub for business and investment, with a diverse and dynamic economy that offers attractive opportunities for domestic and foreign investors. The UAE has recently introduced a Federal Corporate Tax (CT) law that will apply … Read more

INTRODUCTION   Under UAE Corporate Tax Law, Qualifying Income (“QI”) of Qualifying Free Zone Person (“QFZP”) is exempted from taxation. Income from Qualifying Activities amounting to Qualifying Income is exempted from tax liability, while income from other activities, including Excluded Activities, amounts to Non-Qualifying Income which is liable for 9% tax liability as per Article 3 … Read more

Introduction – Deductions under UAE Corporate Tax Law A Taxable Person, under the recently announced UAE Corporate Tax Law, has been provided with certain tax deductions from their Taxable Income that are incurred by the Person during the relevant Tax Period. But what is a tax deduction? As per the UAE CT Law, it refers … Read more

UAE Corporate Tax Law is to be effective from June 1st, 2023 in the UAE. There have been several decisions and updates by the Cabinet, Ministry of Finance, and Federal Tax Authority for the same. To not miss an update, we have provided a comprehensive table with all the latest notifications, decisions, etc. on the … Read more