Starting a business in UAE offers great opportunities, but it’s important to understand the key tax and legal aspects before setting up. Here’s a brief guide on company formation in the UAE, from Tax Agent’s perspective. Business Structure Options Tax Considerations Licensing & Registration Employment Regulations Compliance & Reporting Professional Advice Engaging with a tax […]

According to the terms of Article 40 of the Corporate Tax Law, a Tax Group is defined as two or more Taxable Persons regarded as a single Taxable Person. A tax group can only consist of residents. A tax group for VAT purposes is not the same as a tax group for corporate tax reasons. […]

Who can elect for the Relief?  What are the conditions? What is the Relief? Who cannot elect for the Relief?  A Qualifying Free Zone PersonA member of a multinational group with consolidated group revenue of more than AED 3.15 billion The small business relief is not available for MNE group of companies that are operating other […]

Natural persons in the UAE become liable to Corporate Tax if their total turnover from business activities exceeds AED 1 million in a Gregorian calendar year. Corporate tax rates for natural persons are 0% on taxable income up to AED 375,000 and 9% on taxable income exceeding AED 375,000. Under Federal Decree- Law No. 47 […]

On October 23, 2023, the UAE Federal Tax Authority (FTA) issued the TP Guide that is in conformity with OECD guidelines to the public. It provides clarity on related parties’ definitions, putting more emphasis on the actual conduct of transactions rather than the mere existence of instruments of transfer. The TP Guide recommends Transactional Net […]

There are alot of Audit Firms to choose from. The (subjective) top 20 Audit Companies in UAE are: 1. Deloitte: Deloitte is one of the worldwide audit, consulting, tax, and advisory service leaders. It is also known for its innovative solutions and deep industry expertise. Deloitte helps its customers solve complex problems and grow their […]

Adhering to tax regulations and paying them off on time is an important financial aspect of managing a business in the UAE. The UAE’s laws can be very strict about these rules, and failing to follow them will lead to severe fines and penalties. In order to avoid that, proper Tax Auditing in the UAE […]

Expo City Dubai is the acclaimed “future of free zones” of the UAE. They offer modern solutions to help your business truly grow, with Numerous Grade A office spaces with effective and adaptable floor plans housed in a sustainably constructed, LEED Platinum and Gold certified structure. Why is Auditing needed in Expo City Dubai? In […]

On March 7th of 2024, the Federal Tax Authority of UAE issued a new law regarding the taxation of Foreign Banks operating in the UAE. This new law will repeal Dubai Regulation No.(2) of 1996 which had previously had a 20% tax rate. The reason for the new law is to avoid double taxation on […]

Approved Auditors in Ras Al Khaimah Economic Zone Ras Al Khaimah Economic Zone (RAKEZ) is a business powerhouse and leading industrial hub. It is a business licensing authority that offers customisable solutions for UAE company formation to free zone and non-free zone businesses in a multinational community of +23,000 companies that flourishes in over 50 […]

TwoFour54 Approved Auditors TwoFour54 FreeZone is a media free zone that provides world-class infrastructure and support services that enable the creative community to bring their ideas to life. They have creative spaces, music studios, community centres, conferences and a ‘one-stop-shop’ for general and artistic needs. Why is TwoFour54 Auditing required? Accounting is crucial for all businesses […]

Khalifa Industrial Zone Abu Dhabi Approved Auditors Khalifa Industrial Zone Abu Dhabi (KIZAD) is the leading industrial and manufacturing-related zone in Abu Dhabi & the UAE as a whole. They provide industrial machinery, construction services and building grounds. In order for your manufacturing business to grow, proper auditing is required. Why is Khalifa Industrial Zone […]