How are the Capital Grains being taxed? Contact us for UAE Corporate Tax Advise Check our UAE Corporate Tax Course https://www.youtube.com/watch?v=UuYSOpakKR8 No differentiation is drawn between gains emanating from the disposition of capital assets and those originating from the disposal of Non-Capital (revenue) assets. Capital gains realized from the sale of assets shall be incorporated … Read more
What is the handling of any unrealized profits or losses resulting from accounting fair value or impairment adjustments under the UAE Corporate Tax? Contact us for UAE Corporate Tax Advise Check our UAE Corporate Tax Course https://www.youtube.com/watch?v=UuYSOpakKR8 When a company compiles its financial statements on an accrual basis, it may choose to apply one of … Read more
What accounting techniques are available to Taxable Persons for recognizing profits and losses when their asset values are continually changing? Contact us for UAE Corporate Tax Advise Check our UAE Corporate Tax Course https://www.youtube.com/watch?v=UuYSOpakKR8 In general, tax-paying individuals have three options: recognize unrealized gains and losses for UAE corporate tax purposes; recognize gains and losses … Read more
Whether the Taxable Persons modify their decision to recognize profits and losses using the realization basis method? Contact us for UAE Corporate Tax Advise Check our UAE Corporate Tax Course https://www.youtube.com/watch?v=UuYSOpakKR8 Except in rare cases and with the Federal Tax Authority’s consent, the decision to apply the realization basis technique shall be regarded as final. … Read more
What kind of taxable income are allowed inorder to use the realization basis method? Contact us for UAE Corporate Tax Advise Check our UAE Corporate Tax Course https://www.youtube.com/watch?v=UuYSOpakKR8 All Taxable Persons are permitted to choose to employ the realization basis technique so long as they accrually produce their financial statements. It is crucial to remember … Read more
What is the realization principle, and when is income realized for UAE Corporate Tax purposes? Contact us for UAE Corporate Tax Advise Check our UAE Corporate Tax Course https://www.youtube.com/watch?v=UuYSOpakKR8 The UAE Corporate Tax structure permits Taxable Persons to use the realisation principle to calculate their Taxable Income, much like under many other Corporate Tax systems. … Read more
What adjustments are made to accounting net profit (or loss) for UAE Corporate Tax purposes? Contact us for UAE Corporate Tax Advise Check our UAE Corporate Tax Course https://www.youtube.com/watch?v=UuYSOpakKR8 The accounting net profit (or loss) must be adjusted in accordance with the provisions of the UAE Corporate Tax Law. These adjustments encompass, among others: Unrealized … Read more
Whether financial statements need to be prepared on an accrual basis? Contact us for UAE Corporate Tax Advise Check our UAE Corporate Tax Course https://www.youtube.com/watch?v=UuYSOpakKR8 Taxable Persons should prepare their Financial Statements, and determine their Taxable Income on an accrual basis, unless they are permitted to use the Cash Basis of Accounting instead. Ministerial Decision … Read more
What standards must be followed for Financial Statement preparation? Contact us for UAE Corporate Tax Advise Check our UAE Corporate Tax Course https://www.youtube.com/watch?v=UuYSOpakKR8 For UAE Corporate Tax purposes, Financial Statements of UAE entities and other businesses should adhere to the International Financial Reporting Standards (IFRS). In the event that a Person’s Revenue falls below AED … Read more
What is a Taxable Income? Contact us for UAE Corporate Tax Advise Check our UAE Corporate Tax Course https://www.youtube.com/watch?v=UuYSOpakKR8 Taxable Income for a specific Tax Period comprises the net profit or loss recorded in the business’s financial records, after adjustments for specific items as defined in the Corporate Tax Law. Contact us for UAE Corporate … Read more