Blog

October 3, 2023
Uncategorized
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Corporate tax planning and role of financial accountants

Corporate tax planning is a strategic process through which companies minimize the tax liabilities utilizing various legal and ethical methods to manage their financial affairs. Tax planning helps companies to structure their transactions and operations in such a way that optimizes their tax benefit...

September 28, 2023
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UAE Corporate tax and implications on financial statements

It is a mandatory requirement for all the UAE registered companies to maintain proper books of account. Each jurisdiction emphasizes financial transparency and accountability through its financial reporting requirements, including UAE Commercial Law which mandates all companies to maintain proper bo...

September 26, 2023
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UAE Corporate Tax and External Audit

Over the past few years, the United Arab Emirates has emerged as a leading regional business hub, and it has attracted both local as well as global investors. There are multiple reasons for the economic and business growth of the UAE, including its strategic geographical location, advanced infrastru...

June 6, 2023
Corporate Tax , Tax
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Preparing UAE Businesses for Corporate Tax: Insights from Rethink’s Senior Director – Finance and Tax

Rethink’s Senior Director – Finance and Tax, Neil Guthrie, appeared on the Dubai Eye 103.8 Business Breakfast and on Dubai 1 TV on Tuesday, 30th May to talk about how prepared UAE businesses are for the introduction of Corporate Tax and offering a few pointers on what they should be doing to ens...

March 29, 2023
Events
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RE/THINK – We Are Expanding!

DIFC / ADGM Regulatory and Compliance Authorizations Outsourced Finance Officer, Compliance Officer and MLRO Outsourced Accounting Corporate Tax Advisory and Compliance VAT Advisory and Compliance HR Advisory Outsourced Payroll Management Financial and Tax Due Diligence Financial Modelling and Busin...

February 16, 2023
Corporate Tax , Tax
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Ministry of Finance confirms the threshold of AED 375,000

Businesses are subject to UAE Corporate Tax beginning from the financial year starting on or after 01st June 2023. As per Article 3 of UAE Corporate Tax Law, the Corporate Tax would be imposed at 9% on an income exceeding a threshold to be specified by the Cabinet. Cabinet Decision 116 of 2022, rece...

January 9, 2023
Market Reports
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UAE’s new visa regime to encourage residents to stay for a longer period

The average duration spent in the UAE by residents is set to increase as the new visa regime will encourage expatriates to stay in the country for a longer period, say recruitment and HR consultants. The UAE has introduced many new long-term residency permits including Golden Visa, Green Visa, Retir...

December 29, 2022
Corporate Tax , Tax
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What does the new VAT update on Directors’ remuneration mean to you?

The Federal Tax Authority (FTA) recently published a Public Clarification VATP031 on the treatment of the services of a member of a Board of Directors (hereafter referred to as “Director”) introduced in the Executive Regulations to the VAT Law amended in November 2022. Effective from 01 ...

December 12, 2022
Corporate Tax , Tax
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UAE Corporate Tax Update – Corporate Tax Law published by the FTA

On 31 January 2022, the UAE Ministry of Finance (MOF) announced the introduction of Federal Corporate Tax (CT) on business profits effective for financial years starting on or after 01 June 2023, with a standard statutory tax rate of 9% and a 0% tax rate for taxable profits up to AED 375,000. Follow...

December 5, 2022
VAT
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UAE VAT Update — Clarification on Natural person Performing the Function of Director on a Board of Directors

The Federal Tax Authority (FTA) recently published a Public Clarification VATP031 on the treatment of the services of a member of a Board of Directors (hereafter referred to as “Director”). Effective from 1st January 2023, the provision of the Director’s services is no longer consi...

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