Ever since the Value Added Tax (VAT) has entered into force in 2018, businesses in the United Arab Emirates (UAE) have had to follow new tax laws enforced by the Federal Tax Authority (FTA). The most essential requirement among VAT-registered businesses is the submission of…
It has become a requirement for businesses within the United Arab Emirates (UAE) following the launch of VAT. Though VAT enjoys a clear system of revenue collection, the process of filing is complex and time-sensitive. For this reason, businesses increasingly rely on professional top VAT…
Dubai has traditionally boasted a business-oriented, tax-free culture. With the advent of a 9% Corporate Tax starting from June 2023, the businesses in the UAE are entering a more regulated era of financial reporting. This change has placed a greater significance on Corporate Tax Filing…
The introduction of Value Added Tax (VAT) in the United Arab Emirates (UAE) has changed the business landscape of companies in the country. Since its implementation at a standard rate of 5% in 2018, all VAT-liable businesses have had the obligation of adhering to VAT…
With the introduction of the Value Added Tax in the UAE in 2018, businesses in Dubai are compelled to meet the new tax requirements. VAT is imposed on the majority of goods and services, and the FTA requires all eligible businesses to register. With either…
With Dubai being the hub for business across the globe, the imposition of corporate tax is a significant milestone in the UAE tax regime. As much as the 9% tax on business profits earned above AED 375,000 is low compared to other countries, it adds…
With the recent introduction of corporate tax in the United Arab Emirates (UAE), companies in the UAE are getting ready to adapt their accounting and filing procedures to the new tax framework. The UAE has been traditionally a tax-free jurisdiction, but with the introduction of…
As the United Arab Emirates (UAE) has now implemented the corporate tax on profits above AED 375,000 (applicable from June 1, 2023), commercial entities around the country are now gearing up to adapt their accounting and reporting to conform to the new tax regulations. The…
Dubai has developed as a global business hub with entrepreneurs and multinational firms as well as small and medium-sized entities (SMEs) flocking to it from around the world. Strategically positioned on a global map with investor-friendly policies and a thriving economy, the emirate presents a…
The United Arab Emirates (UAE) implemented Value Added Tax (VAT) in 2018 as part of its overall goal to diversify its economy and minimize dependence on oil income. All businesses operating in the country have been subject to certain VAT compliance practices ever since and…
