Corporate Tax UAE A Complete Guide for Businesses
Corporate Tax is a form of tax applied on businesses (applicable requirements are discussed in this article) on the net profits a business gain. On 31 January 2022, the tax landscape of the UAE shifted when the UAE Government put the Corporate Tax practices implemented in the business world of UAE. This article will discuss: […]
Corporate Tax Filing Mistakes to Avoid in the UAE
The Corporate Tax for Businesses Law (Federal Decree-Law No. 47 of 2022) is a recent law established in the UAE on the business landscape. Most businesses (especially new ones) don’t understand it well, and so make mistakes when filing for Corporate Tax. This article will discuss the most common mistakes businesses make, and how to […]
Accounting and Bookkeeping Services for SMEs in Dubai
Having a SME in Dubai comes with growth opportunities and challenges. One of the key activities is effective financial management. Effective accounting and bookkeeping are vital for business. Why Accounting and Bookkeeping Are Crucial for SMEs in Dubai Dubai, as a global business hub, offers tremendous growth opportunities for SMEs, but its financial landscape can be complex. Here’s why accounting and bookkeeping are necessary: Primary Accounting and Bookkeeping Services for SMEs in Dubai Benefits […]
Accounting and Bookkeeping Firms in Dubai – MAKCA
Accounting and Bookkeeping Firms in Dubai Dubai, a global hub for businesses especially with redefine and innovation has become a magnet for businesses from around the world. With its strategic location, tax-free zones, and business-friendly regulations, the city offers unwavering opportunities for both entrepreneurs and businesses. However, navigating the financial complexities of running a business […]
Preparation for Corporate Tax Filing for Businesses in the UAE
The UAE introduced corporate tax on business profits starting June 1, 2023, with standard rate of 9 %/ To endure compliance, businesses must follow these steps when preparing for corporate tax filing: Corporate Tax Filing for VAT Registered or NOT Businesses in the UAE Corporate Tax Filing for Out-of-scope Businesses: In the UAE, out-of-scope business […]
Exception from Registration for UAE Corporate Tax
The following individuals or entities are not required to register for Corporate Tax with the Authority: How MAKCA can help? By appointing Certified Tax Agent helps determine if your business qualifies for an exemption from UAE Corporate Tax registration by assessing your activities, income sources, and compliance with tax laws. They evaluate whether you fall […]
Tax Residency Certificate Services UAE
WHAT IS TAX RESIDENCY CERTIFICATE? In the UAE, the Tax Residency Certificate is an official document issued by the Ministry of Finance. The country has entered into tax treaties with 55 nations to prevent double taxation. This certificate serves as confirmation that an individual or company is a resident of a specific country, allowing them […]
Determining of Taxable Income under UAE Corporate Tax Law
Under the UAE Corporate Tax Law, Taxable Income is determined starting from the Accounting Income which is the net profit or loss for the relevant period based on IFRS, IFRS for SMEs, or the Cash Basis of Accounting. Adjustments are then made to calculate the Taxable Income for Corporate Tax Purposes. Taxable profits refer to […]
Introduction to UAE Corporate Tax Law
In January 2022, Ministry of Finance announced that it will introduce federal corporate tax (CT) on the net profits of businesses. Businesses will become subject to UAE Corporate Tax from the beginning of their first financial year that starts on or after 1 June 2023.CT will be applied across all emirates. Why is the UAE […]
IFRS 18 Impact Audit Procedures MAKCA Auditing
Are you aware of how IFRS 18 may impact your auditing procedures? Understanding how IFRS 18 impacts financial reporting and auditing is essential. This article will explore what IFRS 18 is for companies and auditors, and how the new standard has reshaped the auditing process in Dubai and UAE. IFRS 18 Impact audit procedures IFRS 18 impact […]
