Rethink’s Senior Director – Finance and Tax, Neil Guthrie, appeared on the Dubai Eye 103.8 Business Breakfast and on Dubai 1 TV on Tuesday, 30th May to talk about how prepared UAE businesses are for the introduction of Corporate Tax and offering a few pointers on what they should be doing to ensure they are […]
DIFC / ADGM Regulatory and Compliance Authorizations Outsourced Finance Officer, Compliance Officer and MLRO Outsourced Accounting Corporate Tax Advisory and Compliance VAT Advisory and Compliance HR Advisory Outsourced Payroll Management Financial and Tax Due Diligence Financial Modelling and Business Valuation Outsourced CFO Services Since 2014, we have supported regulated entities as well as small and […]
Businesses are subject to UAE Corporate Tax beginning from the financial year starting on or after 01st June 2023. As per Article 3 of UAE Corporate Tax Law, the Corporate Tax would be imposed at 9% on an income exceeding a threshold to be specified by the Cabinet. Cabinet Decision 116 of 2022, recently made […]
The UAE has been stimulating growth and innovation since His Highness Sheikh Mohammed bin Rashid Al Maktoum, the Vice-President and Prime Minister of the UAE and Ruler of Dubai, announced the National Innovation Strategy in October 2014. This announcement set in motion plans that would bring about making the UAE one of the most innovative […]
Labour ban/employment ban by Ministry of Human Resources and Emiratisation (MoHRE) states that the employee is not legally allowed to work in another company based in the UAE for a duration of one year or permanently. Who can face Employment ban? Employment ban applies on all employees – skilled or unskilled, when the employee violates […]
The Federal Tax Authority (FTA) has released the latest version of the Guide on Special Methods of Input Tax Apportionment. What is Input Tax Apportionment? Input tax could be recovered by businesses where the costs incurred are used to make taxable supplies. Where VAT has been incurred for non-business reasons or has been incurred to […]
In an announcement to its clientele, DMCC has informed on the implementation of WPS. This is in effect from January whereby registration must be done for all employees with active employment visa or Personal Identity Card (PIC) under each company with salary payment effected before February 15, 2023. WPS or the Wage Protection System is […]
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, say recruitment and HR consultants. The UAE has introduced many new long-term residency permits including Golden Visa, Green Visa, Retirement Visa and Freelance Visa for […]
In a new initiative, the UAE has introduced Unemployment Insurance. As announced by the Ministry of Human Resources and Emiratisation (MoHRE), this came into effect from January 01, 2023. As per the Decree Law on Unemployment Insurance Scheme (Federal law number 13/2022 and Cabinet decision number 97/2022), it is stipulated that the insured person will […]
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”) introduced in the Executive Regulations to the VAT Law amended in November 2022. Effective from 01 January 2023, the provision of the Directors’ services is […]
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