Key Highlights The UAE Ministry of Finance and Federal Tax Authority have announced a penalty waiver for businesses that missed the Corporate Tax Registration deadline. To qualify, businesses must submit their Corporate Tax return or annual statements within 7 months from the end of their first tax year. Example: For businesses with financial year end of 31 December 2024, the […]
As we navigate the evolving landscape of Corporate Tax (CT) in the UAE, we highlight key points and strategic opportunities available to your organization. Key Compliance Dates Ongoing Obligations Strategic Tax Reliefs and Exemptions We have identified several opportunities, including: Next Steps Consult with our team to discuss how these developments may impact your organization […]
Operating in the ADGM or DIFC? Make sure to stay on top of your ongoing compliance and tax obligations. What’s going on? Our guidance and support Our recommendations If you have any questions or concerns, please do not hesitate to reach out to us. We are here to support you every step of the way […]
Application for Tax Transparency for Family Foundations is Now Open The Federal Tax Authority (FTA) has officially introduced the Tax Transparency application on the EmaraTax portal, enabling Family Foundations to apply to be treated as Unincorporated Partnerships. Tax Transparency provides Family Foundations with an opportunity to have their income attributed directly to their founder and […]
The Federal Tax Authority (FTA) issued Public Clarification TAXP007 (Clarification) announcing the special dispensation for updating records with the FTA. The FTA has implemented a grace period from 1 January 2024 to 31 March 2025 (grace period), allowing the registrants to rectify their tax records without incurring administrative penalties. Background Practical ambiguities encountered while amending […]
The Federal Tax Authority (FTA) published the Cabinet Decision No. (100) of 2024 (Decision), which amends the Executive Regulations of Federal Decree-Law No. (8) of 2017, effective from 15 November 2024. Under the existing VAT regulations, the provision of investment fund management services for consideration is subject to VAT at 5%. With the recent amendment […]
The Federal Tax Authority (FTA) has published Cabinet Decision No. (100) of 2024, which amends the Executive Regulations of Federal Decree-Law No. (8) of 2017(Executive Regulations), effective 15 November 2024. This article highlights the changes to Article 31 of the Executive Regulations regarding the zero-rating of export services. Key Amendments? The key amendments to Article […]
The Federal Tax Authority (FTA) published the Cabinet Decision No. (100) of 2024 (Decision), which amends the Executive Regulations of Federal Decree-Law No. (8) of 2017, effective from 15 November 2024. The FTA has released the Arabic version of the Decision, and the English version is expected to be published soon. What’s New? The key […]
The Federal Tax Authority (FTA) has announced Decision No. 7 of 2024 (Decision), which extends the deadline for filing Corporate Tax (CT) returns and for payment of the CT for specific tax periods. The FTA in the Public Clarification – CTP003 clarified that the first tax period under the CT regime in the UAE must […]
In light of the recent Public Clarification – CTP003(Clarification), which clarifies the First Tax Period under the Corporate Tax (CT) regime in the United Arab Emirates (UAE), the Federal Tax Authority (FTA) has updated the Tax Registration Certificate to reflect the first tax period. Previously, the certificates indicated a submission deadline of September 2025, but […]
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