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…
Education Sector VAT Implications The education sector experiences a mix of VAT rates depending on the service type and the institution’s ownership. Notably, private and public school education, excluding higher education, alongside goods and services provided by these institutions, are…
Introduction This blog serves as a comprehensive guide to the UAE Corporate Tax regime, specifically focusing on tax groups. It aims to provide a clear understanding of the formation, compliance obligations, and changes in membership relating to tax groups. This…
Introduction Understanding the concept and importance of Corporate Tax in the UAE are vital for natural persons engaged in business activities within the country. This section will provide an overview of the applicability of Corporate Tax to natural persons, highlighting…
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…
While COVID-19 may have slowed down certain activities, as well as inadvertent breakdowns in financial reporting matters. Consequently, global regulators and watchdogs have issued reports and standards to address these concerns. In this edition of the Audit & Accounting Alert,…
Amount of Annual Income Subject to Corporate Tax-CD-116 of 2022 0% CT rate Taxable Person Income not exceeding (375,000) shall be subject to Corporate Tax at the rate of (0%) zero percent in the Tax Period irrespective of whether the…
Caculating Corporate Tax liability Corporate Tax Reliefs Transfer of Tax Loss–(Article 38) Tax loss can be offset against taxable income of another person if: Tax Return To complete a tax return for CT folloing information will be included: a) The…