In December 2022, the United Arab Emirates introduced a seismic change in its corporate taxation landscape through the enactment of Federal Decree-Law No. (47) of 2022, commonly referred to as the Corporate Tax Law (CTL). This regulation, effective from June 1, 2023, establishes a corporate tax rate of 9% on income over AED 375,000. Special… Continue reading UAE Corporate Tax Law for Freezones: A Comprehensive Guide

UAE introduced Economic Substance Regulations (ESR) in April 2019 to prevent harmful tax practices like tax evasion. These Regulations were later on amended by Cabinet of Ministers Resolution No. 57 of 2020 in August 2020. Further, Ministerial decision No. 100 for the year 2020 on the issuance of directives for the implementation of the provision… Continue reading Scope of UAE ESR

This public clarification replaces the original public clarification VATP029. Purpose : Amendment to tax treatment of Making service of Gold & Diamonds. Amendment in Cabinet Decision no. 25 As per Article 1 of Cabinet Decision no. 25, the original definition of “GOODS” consists of  However, the above definition has been amended and replaced for a… Continue reading VATP032 – Interpretation

“FTA: The transition to the new platform was done seamlessly in an effort to ensure all current users can easily navigate EmaraTax.” What is EmaraTax? The Federal Tax Authority (FTA) on 5 December 2022 had launched its newly integrated and fully developed digital tax administration platform named “EmaraTax”. The upgraded portal is believed to provide… Continue reading EmaraTax – FTA portal 2.0