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…

Вводная информация относительно завещания Завещание – это юридический документ, в котором указывается, как вы хотите распорядиться имуществом после смерти. Завещание составляется физическим лицом, которое именуется «завещателем» или «составителем» завещания. Завещатель определяет, кто наследует какое имущество, и кто должен выполнять за…

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…

Deductible Expenses–(Article 28) Interest Expenses Entertainment Expenditure –(Article 32) 50% of entertainment expenses are deductible. Entertainment include the followings:a) Meals.b) Accommodation.c) Transportation.d) Admission fees.e) Facilities and equipment used in connection with such entertainment, amusement or recreation. Non-Deductible Expenses–(Article 33) Contact…

Tax Base –(Article 12) State Sourced Income–(Article 13) Permanent Establishment–(Article 14) Fixed or Permanent Place–(Article 14) Fixed or Permanent Place–Exceptions (Article 14) A fixed place or permanent place is not operated by the non-resident person, or its related party or…

Taxable Income–(Article 20) Taxable Income– Financial Statements (Article 20) Taxable Person that prepares financial statements on an accrual basis may elect to take into account gains and losses on a realization basis in relation to: Exempt Income–(Article 22) Participation Exemption…