Taxes are an inevitable part of everyone’s life. Taxes are paid usually on the income source of an entity but many a time what happens is that income taxes are required to be paid by an entity twice on the same source of income. This usually occurs in international trades of investments made in two […]
Different jurisdictions in the world have different rules and regulations which are required to be followed by a business if it wants to continue doing business in that region. This is known as regulatory compliance. If the rules and regulations of the business are not followed then the business can face a number of problems […]
The government of the United Arab Emirates has taken many steps to ensure that the businesses in the country, as well as the businesses which are coming into the county from all around the world, do not face any difficulty. The government takes various steps and amends various laws to make sure of it. One […]
Even if a taxable entity is particular about the submission of taxes, there can be errors made. Then the taxable entity has to resolve this dispute relating to the taxes. This can be a lengthy and complicated process in some cases. This article will help a taxable entity to resolve such disputes in the future. […]
There have been changes made by the UAE government related to an Ultimate Beneficiary Officer (UBO). The government fairly recently released a notification which was titled Cabinet Decision No 58 in the August of 2020. This resolution stated that all the businesses which have been registered in the UAE must declare their Ultimate Beneficiary Owner […]
The Government of the United Arab Emirates has taken many steps to ensure that the businesses which have been coming into the country do not face any problems as well as also ensure that these businesses do not defraud the government and pay their dues in taxes. Lately, the government of the UAE issued a […]
Companies worldwide are required by the regulations specific to the country to pay taxes and file corresponding returns with the respective authorities. UAE has been one of the most attractive investment destinations for companies worldwide because of its geographical location, stability and business-friendly regulations. Until 2018, most companies in the UAE are not required to […]
In a much welcome move, the Federal Tax Authority in UAE has announced revisions/reductions in Administrative Penalties applied for VAT non-compliance by issuing a new Cabinet Decision No. 49/2021. This was a much-needed and awaited move from the Tax Authority to provide relief to VAT registrants during these testing times. The main aim of the […]
Capital assets form a huge part of a business. Without capital assets, it is almost impossible for a business to survive. The UAE government recently introduced Value Added Tax (VAT) at a rate of 5%. The UAE VAT law allows the businesses to reoccur the input VAT, which has been paid for the company’s procurement […]
UAE is a land of opportunities for businesses. Over many years, businesses have seen rapid growth and explored new footholds in West Asia and African markets. The business-friendly ecosystem has enabled the success of companies in the UAE. Value Added Tax (VAT) was introduced in the UAE and other Gulf Cooperation Council (GCC) member countries […]
