Why Transfer Pricing Documentation Matters: Best Practices For Businesses in UAE For multinational companies in the UAE, maintaining proper transfer pricing documentation is crucial to remain compliant with tax regulations and stay away from its associated risks. To effectively navigate…

On 6th February 2025, the UAE Ministry of Finance (MoF) published a public consultation paper on e Invoicing which includes the proposed UAE e-Invoicing data dictionary. This public consultation aims to gather feedback from all stakeholders on e Invoicing, promote…

The UAE Ministry of Finance (MoF) announced amendments to Ministerial Decisions under Federal Decree-Law No. 47 of 2022 on Corporate Taxation. The Ministerial Decision No. (301) of 2024 on Tax Groups and Ministerial Decision No. (302) of 2024 on Participation…

Tax Alert! Bahrain to Introduce Domestic Minimum Top-up Tax for MNEs On September 1, 2024, the Kingdom of Bahrain introduced the domestic minimum top-up tax (DMTT) for large multinational enterprises (MNEs), by releasing the Decree Law (11) of 2024.  Moreover,…

Introduction to Tax Groups The Corporate Tax Law has introduced Tax Groups as a framework allowing corporations to streamline their tax processes. This guide is designed to provide a straightforward overview of what Tax Groups are, their benefits, and how…

Overview Federal Decree-Law No. 47 of 2022 on Corporations and Businesses (“Corporate Tax Law”) was issued on 3 October 2022 and published on 10 October 2022 in Issue #737 of the Official Gazette of the United Arab Emirates (“UAE”).  The…

The Ministry of Finance (MoF) issues the Tax Residency Certificate or Tax Domicile Certificate. In order to prevent double taxation, corporate individuals may register for a Tax Domicile Certificate in the UAE. In order to guarantee this, an agreement known…

The first consignment of jewellery sent by India to the UAE under the Comprehensive Economic Partnership (CEPA) was received by private sector gold business leaders on Tuesday. The first shipment of three packages contained approximately $1 million worth of precious…

The Federal Tax Authority (“FTA”) is the government entity responsible for the administration, collection, and enforcement of federal taxes in the United Arab Emirates (“UAE”). The following federal taxes apply in the UAE: As part of its mandate to enforce…

Financial statements are prepared in accordance with established guidelines. Understanding the objectives of financial reporting is helpful in understanding these guidelines. As discussed in the Financial Accounting Standards Board (FASB) Statement of Financial Accounting Concepts No. 1, the objectives of…