What? Cabinet Decision No 65 of 2020 highlights the regulations on the fees charged on specified services by the Federal Tax Authority of the UAE. After a thorough review of varied laws and combining a series of amendments, the decision illustrates fees associated with the services provided by the FTA. Do you want to know more about the fees for…
The United Arab Emirates (UAE) is known for its enormous tax regime, which has attracted many companies to set up their business operations in the country. With a minimum corporate tax rate, the UAE has set an example to be one of the most ideal countries for businesses across the world. However, similar to other nations, the UAE has established…
Key conditions in UAE for Qualifying Investment Funds To qualify as an investment fund under the Corporate Tax Law in the UAE, certain conditions must be met: Conditions to exempt from Corporate Tax under Investment Funds In accordance with UAE Corporate Tax Law, additional conditions are established through a Cabinet decision. In compliance with the specified requirements, the Ministry of…
The words and expressions that are contained in this decision shall have the same meaning assigned for each word and expression in the Federal Decree Law no. 28 of 2022 and Cabinet decision no. 74 of 2023, unless the context otherwise requires. Additional conditions for the list of the juridical person for the tax agent For the purpose of the…
In recent years, 64% of companies in the UAE have started forming robust and formal ESG strategies. Compared to previous years more companies and government bodies have begun ESG strategy as a priority move. Since UAE is appointed to host the 28th session of the Conference of Parties in November this year, there has been a spotlight on the development…
The UAE Ministry of Finance has published ministerial decision no. 247 of 16 October 2023 on the issuance of tax residency certificates for international agreements with people. The decision of the ministry is present in the following: 1. For Article 6 international agreements for cabinet decision no. 85 of 2022, a person who meets the conditions of tax residency in…
On October 25, 2023, with effect from October 30, 2023, the UAE Federal Tax Authority (FTA) introduced Ministerial Decision No. 262 of 2023, outlining the “Criteria for Identifying Components and Elements of Electronic Devices. What is Ministerial Decision 262 in the UAE? The definitions outlined in Federal-Decree Law No. 8 of 2017 and Cabinet Decision No. 91 of 2023 shall…
Vouchers have become indispensable across a multitude of industries. It offers customers diverse opportunities to access products, services, or discounts. The implementation of the Value Added Tax decree law, as amended, and the cabinet decisions related to the executive regulations of the federal decree law on value-added tax, as amended, have prompted businesses to thoroughly assess their operations. This article…
In a major development for businesses in the UAE, new regulations have been implemented that will affect the conversion of foreign currencies into local currency when calculating corporate tax. These regulations are part of the country’s ongoing effort to increase transparency and simplify tax processes, making it essential for companies to remain informed and adjust to the ever-evolving regulatory environment.…
Overview Recently, the UAE’s Federal Tax Authority (FTA) introduced Cabinet Decision No. 91 of 2023, published in the Official Gazette on 25th August 2023, which will be enforced 60 days from its publication date. Defining Electronic Devices Firstly, it’s crucial to define what this decision pertains to Electronic Devices, as outlined in the decision, encompassing a range of products including…