UAE Cabinet Decision No. 142 of 2024: Introduction of Top-up Tax on Multinational Enterprises (Effective from 1 January 2025) Date of Issue: 31 December 2024 Effective Date: 1 January 2025 The UAE Cabinet has issued Cabinet Decision No. 142 of…
A new framework has been introduced by the financial markets of a Gulf Cooperation Council (GCC), to streamline fund passporting that integrate & strengthen the position of GCC financial markets in the global investment landscape. During the 29th meeting of…
The FTA’s introduction of corporate tax in the UAE mandates certain entities to prepare their financial statements based on IFRS or IFRS SMEs for reporting, which has elevated significant difficulties for entities that do not previously adopt IFRS standards. According…
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 : Tax Group Provisions under UAE Corporate Tax Law Date of Issue: 9 December 2024 Effective Date: 10 December 2024 The UAE Ministry of Finance has issued Ministerial Decision No. 301 of 2024, providing comprehensive rules…
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,…
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…
