Which accounting standards must a Taxable Person adhere to?
Taxable Persons are mandated to adhere to the International Financial Reporting Standards (IFRS). However, if their Revenue falls below AED 50,000,000, they have the option to employ the IFRS for Small and Medium-sized Enterprises (IFRS for SMEs).
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Related Content for UAE Corporate Tax
Are Free Zone companies in UAE liable to Corporate Tax ?
Free Zone has distinct taxation system based on Qualifying Income and Excluded Income. It is therefore essential to know the kind of income taxable under UAE Corporate Tax Law for Free Zone companies.
Can you Split up your Business to claim Small Business Relief in the UAE?
If your business exceeds the Revenue Threshold limit for Small Business Relief, can you split up your business to claim Small Business Relief as per UAE Corporate Tax Law or will it constitute a Tax Crime punishable under the UAE Tax Procedures Law?
Who is a Taxable Person under UAE Corporate Tax Laws?
Are you a Taxable Person liable for Corporate Tax under the UAE Corporate Tax Law? Can an Exempt Person be considered as a Taxable Person?
