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by in Press Release

Re/think expands presence in the UAE – Launches new offices in the DIFC and DMCC (November 2023)

20 November 2023, Dubai, UAE: Leading UAE multi-service business advisory and outsourcing firm Re/think is pleased to announce its expansion in Dubai with the launch of two new offices in Dubai International Financial Centre (DIFC) and in Dubai Multi Commodities Centre (DMCC) – in addition to its existing office in the Abu Dhabi Global Market […]

by in Accounting & Finance, Compliance

The Role of the Finance Officer (FO)

Overview: All regulated entities in the Dubai International Financial Center (DIFC) are required to designate a Finance Officer (FO) to oversee the Finance & Accounting function to ensure compliance with International Financial Reporting Standards (IFRS) and relevant DFSA rules as contained in the PIB. The FO is an Authorised Individual under DFSA regulations and acts as regulators […]

by in Pending

Compliance Update: The Crucial Role of the Control Function in DIFC–Regulated Financial Institutions

Located in the Gulf, but strategically positioned to services the larger Middle East, Africa, and South Asia (MEASA) region, the Dubai International Financial Centre (“DIFC”) is a leading international financial hub with a vibrant business ecosystem of over 36,000 professionals. It is home to more than 4,300 active companies that benefit from the centre’s robust […]

by in TAX

Tax Update: Administrative Penalties for Violations related to Corporate Tax in the UAE from August 2023

With the introduction of the UAE Corporate Taxation regime, the government authorities have been very active in the last weeks by publishing numerous Cabinet, Ministerial, and Federal Tax Authority Decisions. The Ministry of Finance recently published a Cabinet Decision to the Decree Law No. 47 of 2022 on Taxation of Corporations and Businesses Law (“CT […]

by in TAX

Tax Update: Four-Step Walkthrough To Identify Your Potential CT Implications For Your Free Zone Entity

On June 1, the Ministry of Finance (MoF) provided clarity to the tax implications on the Qualifying Income of a Free Zone Entity (FZE) through Cabinet Decision No. 55 and Ministerial Decision No. 139. In summary, a Qualifying Free Zone Entity can apply a 0% CT rate to a Qualifying Income, limited to transactions listed […]

by in TAX

Preparing UAE Businesses for Corporate Tax: Insights from Rethink’s Senior Director – Finance and Tax

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 […]

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