January 9, 2023 / Other
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, ... Read more
December 29, 2022 / Tax
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”) ... Read more
December 12, 2022 / Tax
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 ... Read more
December 5, 2022 / Regulatory & Compliance
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”). ... Read more
November 3, 2022 / Regulatory & Compliance
UAE VAT Updates – Amendments to the VAT Law effective from 1 January 2023
The UAE Cabinet (Cabinet) issued Federal Decree-Law No. 18 of 2022 on 26 September 2022, which amends some of the provisions of Federal Law No. 8 of 2017 on Value ... Read more
September 29, 2022 / Tax
UAE Corporate Tax – Impact on transactions with connected persons
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 ... Read more
July 25, 2022 / Other
Variable Capital requirements introduced by DFSA
Definition When we think of money, stored value means anything that is not cash, but one can still use it to transfer value – checks, debit cards, gift cards, and ... Read more
June 14, 2022 / Tax
UAE Corporate Tax Update – Impact on Free Zone businesses
On 31 January 2022, the Ministry of Finance (MOF) announced that the United Arab Emirates (UAE) will introduce a Federal Corporate Tax (CT) on business profits effective for financial years ... Read more
May 19, 2022 / Tax
UAE Corporate Tax Update — Stop and Rethink on the decision to Tax Group under the UAE Corporate Tax
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 ... Read more
May 6, 2022 / Tax
UAE ESR Update: ESR Audit — What Process?
With the issuance of the new Cabinet Resolution No. 57 of 2020 concerning Economic Substance Requirements (“Regulations”) on 10 August 2020, the Federal Tax Authority (“the FTA”) was appointed as ... Read more