The Federal Tax Authority UAE does not charge income tax on individuals. This is ideal for freelancers and self-employed individuals in the UAE. The branches of the foreign banks are taxed 20% in most of the UAE. The capital gains…
‘Tax’ is a common, most often used term which is also mandatory in all work fields mainly for business, world-wide. Tax is paid by the citizens to the Nation’s government; as a result, the government provides all essential services to…
The whole world is captured by money. Meanwhile, today, the world is facing rapid growth in its economic status. Moreover, companies and people across the globe started setting up a business to gain profits, in the business centre of…
Introduction: Dubai, one of the seven Emirates in UAE, is considered as the heart of the business centre. According to the current legislation of the Federal Tax Association (FTA), the citizens and organizations of UAE are obliged to pay…
In today’s world, businesses don’t just happen within a single place. Businessmen spread their work in many countries. People (both entities and individuals) started facing a revised plan in tax payments when the Trade Residency Certificate came into law. However,…
Value Added Tax (VAT) has been the most recent addition to the taxation laws in the UAE. VAT was introduced on the 1st of January 2018 and has been fixed at the rate of 5%. The TRN is also closely…
Tax Residence Certificate is issued for eligible government entities, individuals and companies, in order to take advantage of the agreements of DTAA by UAE. The law regarding the TR certificate is a part of the Ministry of…
IFRS 16 Tax impact IFRS 16 Tax impact of the new leasing standards IFRS 16 on leases became compelling 1 January 2019. Given this new standard, accounting disclosures for operating leases have also been affected. IFRS 16 Tax impact realize…