UAE Ministerial Decision No. 302 of 2024: Participation Exemption and Foreign Permanent Establishment Exemption for Corporate Tax Law Issued on 10 December 2024 | Effective from 11 December 2024 In a significant development, the UAE Ministry of Finance has issued…
Cabinet Decision No. 127 of 2024: Reverse Charge Mechanism for Precious Metals and Precious Stones (Effective from 15 February 2025) Date of Issue: 16 December 2024 Effective Date: 15 February 2025 The UAE Cabinet has issued Cabinet Decision No. 127…
Ministerial Decision No. 301 of 2024: Tax Group Provisions under UAE Corporate Tax Law (Effective from 10 December 2024) Date of Issue: 9 December 2024 Effective Date: 10 December 2024 The UAE Ministry of Finance has issued Ministerial Decision No….
Is Audit Season approaching? No worries! We are here with this ultimate checklist to navigate your internal auditing process smoothly and confidently. From a mere compliance check to a strategic decision-making process. Internal auditing has evolved from a mere compliance…
From data analysis to decision making, AI is transforming the accounting and finance industries. As we explore the dynamics of accounting and finance, we find that the practical application of AI technology leads to spectacular growth in organizations by enhancing…
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,…
Key Updates to DMCC Regulations and Licensing Rules You Need to Know The Dubai Multi Commodities Centre (DMCC) has recently updated its regulatory framework, with new rules coming into effect on October 10, 2024. These changes are designed to simplify…
Individual real estate investors in the UAE enjoy one of the most favourable tax environments globally for property holdings. However, with the introduction of Corporate Tax (CT) under Federal Decree-Law No. 47 of 2022, many high-net-worth individuals and business owners…
The International Financial Reporting Standards (IFRS) for Small and Medium-sized Entities (SMEs) were developed by the International Accounting Standards Board (IASB) as a simplified framework for smaller businesses. These standards cater specifically to entities that do not have public accountability,…
VAT Update Alert! Amendments On Executive Regulations Effective From 15th November 2024 On 2 October 2024, The UAE Federal Tax Authority released amendments to VAT Executive Regulations of Federal Decree-Law No. 8 of 2017 by publishing Cabinet Decision No. 100…