30

Apr

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UAE Corporate Tax: Registration Deadline 

The UAE Federal Tax Authority (FTA) has set the date for taxpayers and exempt individuals to sign up for corporate tax registration, as per the recent decision made by the FTA (i.e. the Decision No. 3 of 2024) ( FTA Decision). This FTA Decision comes into effect on March 1, 2024.  The dates for filing corporate tax depend on the place of residence or residence of the individual, the category of person and the date of incorporation or the date of commencement of business for the individual.  Resident Juridical Persons  For UAE legal persons who are resident the date for…

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29

Apr

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Essential Corporate Tax Planning Strategies for Dubai Businesses 

The Corporate Tax law in UAE is a new tax law in the region and it is always subjected to upcoming updates. Companies that belong to the corporate system of UAE must adhere to the rules they set out. It's common for companies to have and one may be wondering what the most important thing is to do in relation to and how they can deal with corporate tax planning. Corporate tax consultants in Dubai are a great help in this case.   This blog will help you explore the strategies of corporate tax planning in Dubai. The tax system in…

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26

Apr

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Expert Advice: Why Your Business Needs Corporate Tax Consultants In Dubai?  

In the current rapidly changing business world being ahead of the curve is essential to succeed. One area that is often ignored but is vital to staying competitive is tax advice. As companies navigate complicated tax regulations and constantly changing legislation, having a trusted tax expert on their assistance can be a huge help. A corporate tax advisor in Dubai is not just a reliable source of compliance with the most current tax laws, but also helps companies maximize their tax savings while minimizing tax liabilities.  Their expertise helps them recognize potential risks and opportunities and offer invaluable advice for…

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25

Apr

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UAE Corporate Tax Guide for Extractive and Non-Extractive Natural Resource Businesses 

Overview  Corporate Tax Dubai is a new tax in Dubai and there are different taxation aspects for different businesses. Both the extractive and non-extractive natural resource sectors must deal with taxes as part of their business operations. For companies operating in these industries, the United Arab Emirates (UAE) Corporate Tax Law offers a thorough manual that outlines the taxation structure for both extractive and non-extractive activities. This blog will explain the main points of the Corporate Tax Guide (CTGEPX1), with a particular emphasis on the differences between businesses that deal with extractive resources and those that do not. Corporate Tax…

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24

Apr

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Corporate Tax Law in UAE: What Natural Persons Need to Know 

The legislative foundation for imposing federal tax on corporations and business profits in the United Arab Emirates is established by Federal Decree-Law No. 47/2022 on the Taxation of Corporations and Businesses, often known as the Corporate Tax Dubai. This blog will give a general overview of the Corporate Tax Law's consequences for natural people, highlighting important factors, exclusions, and the overall tax environment and the role of corporate tax consultants Dubai.   A thorough guide explaining how corporate tax applies to natural persons, registration requirements, and other steps required to comply with UAE corporate tax law has been published by the…

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23

Apr

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Understanding UAE’s Country-by-Country Reporting (CbCR) Regulations 

Introduction:  Cabinet Resolution No. 44/2020, which replaced Resolution No. 32 of 2019 has recently updated the regulations for multinational enterprises (MNEs) that are carrying out the business operations in the United Arab Emirates. This resolution contains the information why there is the need of MNEs to organize their reports meticulously, with a solid consideration on their obligations for Country-by-Country Reporting (CbCR).   The purpose of country-by-country reporting:   The goal of Country-by-Country Reporting (CbC) is to close any information gaps between tax authorities and taxpayers on the location of economic value creation inside MNE groups and whether they correspond with gains and…

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22

Apr

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Recent Developments in Dubai Business Tax Group Legislation 

The residents who elected to be classified as a single taxable company for the purposes of UAE Corporate Tax are tied to one another through a common ownership and control structure known as a Tax Group. A legal entity having an effective management location in the United Arab Emirates or one that is registered with the state is referred to as a resident person. With the Parent Company serving as the group's representative member and managing compliance responsibilities, a Tax Group functions as a cohesive entity. Both the Parent Company and the Subsidiary are liable for the tax due jointly…

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19

Apr

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Key requirements for corporate tax deregistration in the UAE 

Within the ever-changing commerce environment of the Joined together Middle easterner Emirates (UAE), companies in Dubai may experience circumstances that call for an alter in their legitimate structure or the end of their exercises. Beneath such circumstances, completing the Corporate Tax Deregistration process gets to be fundamental. This calculated activity ensures adherence to the rules built up by the Federal Tax Specialist (FTA) within the Joined together Middle easterner Emirates whereas at the same time soothing companies of the corporate Tax liability. This article will discuss the deregistration process in the UAE and how professional corporate tax consultants in Dubai…

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18

Apr

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How to file corporate income tax returns and Required documents? 

Tax Payable companies doing business in the UAE must register with the Federal Tax Authority (FTA) and obtain a tax identification number within the period specified in the latest law. If a person refuses to join a company for corporate tax reasons, the Federal Tax Service will force him to do so. A company can also go through the deregistration process if it is no longer liable to pay taxes in the UAE. Companies are required to prepare and submit only one tax return (together with other relevant documents) to the Federal Tax Office (FTA) per tax period; This will…

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17

Apr

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Will Foreign Companies be Subject to Corporate Income Tax in Dubai UAE? 

Business tax in Dubai, UAE are direct taxes imposed on the income or profits of companies and other legal entities. All companies operating in the United Arab Emirates will be subject to UAE corporate income tax, except for companies involved in the extraction of natural resources, which will continue to be taxed at the Grand Duchy level. Corporate tax in Dubai only applies to foreign companies regularly doing business or trade in the UAE. All income and other income related to financial information obtained from general accounting standards are subject to the same corporate tax law. This article will discuss…

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