An expense can appear in your accounts and still need different treatment in your Corporate Tax calculation.  A client dinner, an employee event and a payment to a shareholder may all be recorded as business costs. Their tax treatment depends…

In the UAE’s dynamic free zone ecosystem, robust licensing and compliance form the foundation for sustainable business operations. The Dubai Multi Commodities Centre (DMCC), one of Dubai’s premier free zones, continues to strengthen its regulatory framework to align with international…

UAE regulators continue to raise the bar on corporate governance, financial transparency, and risk management. With increasing scrutiny from authorities like the Federal Tax Authority (FTA), Abu Dhabi Accountability Authority (ADAA), and free zone regulators, businesses face higher expectations for…

UAE’s New Free Zone Business Setup Assurances Awes Businesses – License in 2 Hours, Visa in 2 Days  The Ajman city in UAE has established Ajman NuVentures Centre Free Zone (ANCFZ), a groundbreaking free zone with a unique approach to…

Overview Summary The UAE Ministry of Finance has rolled out mandatory e-invoicing using a Peppol-based Decentralized Continuous Transaction Controls and Exchange (DCTCE) 5-corner model. Businesses must use an Accredited Service Provider (ASP) to issue, validate, exchange, and report structured electronic…

UAE Announces New Tax Rules For Qualifying Investment Funds (QIFs) and Qualifying Limited Partnerships (QLPs) On April 6, 2025, the ministry of finance has issued the Cabinet Decision No.34 of 2025 on the Qualifying Investment Fund and Qualifying Limited Partnerships…

FTA Decision No. 2 of 2025: Updated Policy on Issuance of Clarifications and Directives (Effective from 1 March 2025)  The Federal Tax Authority (FTA) has issued Decision No. 2 of 2025, introducing an updated and consolidated Policy on Issuance of…

FTA Decision No. 1 of 2025: Extension of Deadlines for Tax Assessment Review and Reconsideration Requests (Effective from 1 March 2025)  Date of Issue: 17 February 2025  Effective Date: 1 March 2025  The Federal Tax Authority (FTA) has issued Decision…

The roll out of corporate tax regulations in the UAE represents a transformative shift in the UAE’s financial landscape. As part of the corporate tax requirement, businesses are now required to adhere to specific accounting standards, primarily the International Financial…

How To Prepare For Your Annual Audit? Best Practices For UAE Businesses As most of the businesses in UAE approach the end of the fiscal year, it is crucial to prepare for the annual/yearly audit. This is the right time…

Frequently Asked Questions (FAQs) About ICV Certification In UAE Securing an ICV certificate in UAE brings long-term growth for businesses and it’s crucial to stay competitive in the evolving business landscape. We have answered the most commonly asked questions in…

General Interest Deduction Limitation Rule in the UAE Corporate Tax: All You Need To Know  On May 30, 2023, the UAE Ministry of Finance released Ministerial Decision No. 126 of 2023 relating to the General Interest Deduction Limitation Rule (GIDLR)…

As Crypto Mining becomes increasingly popular, the attention to the tax treatment on CryptoCurrency Mining is essential. Businesses and individuals in UAE involved in the crypto mining activities have concerns regarding the VAT application on such activities. To rectify this…

The Public Company Accounting Oversight Board (PCAOB) recently proposed new updates requiring auditing firms to provide specific information regarding their audit practices on an engagement and firm level, expanding the public reporting.  Audit Firms that work with accelerated filers and …

Corporate Tax Return Filing in UAE If you’re running a business in the UAE, it is mandatory to file for Corporate Tax Return to comply with the tax regulations and avoid penalties. The Federal Tax Authority issues the timeframe for…

How to Choose the Best Auditing Firm in UAE in 2025? Have you ever thought about the impact that your business will create when choosing the right auditing partner?  If you agree that your business is much beyond the selling…

How To Prepare for Corporate Tax Filing in the UAE? The UAE has completely transitioned into the corporate tax era, making a paradigm shift in the country’s business landscape. With the introduction of corporate tax regulations, businesses now should adapt…

Overview Summary Correcting errors in UAE VAT returns requires prompt action through adjustments in subsequent returns for minor issues or Voluntary Disclosure (Form VAT 211) for material ones. Under 2026 rules influenced by Federal Decree-Law No. 17 of 2025 and…

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…

Domestic Minimum Top-up Tax (DMTT) for MNEs Will be Effective from 1, January 2025  The UAE Ministry of Finance (MoF) announced a significant update in the corporate tax regulation by introducing a 15% Domestic Minimum Top-up Tax (DMTT) for Multinational…

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…